Main Takeaways from Coca-Cola’s Strong Performance in Q1 2024 Earnings Report

Tuesday, 30 April 2024, 17:11

Coca-Cola delivered impressive results in its Q1 2024 earnings report, surpassing expectations with revenue growth and updated guidance. Key highlights include better-than-expected financial results, strong business performance across segments, and an optimistic outlook for future growth. The company revised its full-year 2024 guidance to reflect higher organic revenue and EPS growth projections, indicating a positive trajectory for Coca-Cola.
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Main Takeaways from Coca-Cola’s Strong Performance in Q1 2024 Earnings Report

Better-than-expected results

Coca-Cola’s net revenue grew 3% year-over-year to $11.3 billion in the first quarter of 2024, beating estimates. Organic revenues grew 11%. Net income increased 2% to $3.1 billion and EPS grew 3% to $0.74. Comparable EPS rose 7% to $0.72, surpassing projections.

Business performance

Coca-Cola recorded revenue increases across all segments during Q1, except for EMEA and Bottling Investments. Unit case volume growth was observed in developed and emerging markets, driven by various product categories. Geopolitical and economic challenges in Eurasia and the Middle East impacted the region's performance.

Updated guidance

Coca-Cola revised its full-year 2024 guidance for organic revenue growth and EPS. It expects organic revenues to grow 8-9% and comparable currency-neutral EPS to increase 11-13%. The company remains optimistic about its growth prospects, especially in water, sports, coffee, and tea segments.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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