Coca-Cola reports Q2 Earnings, beats expectations
The Coca-Cola Company(Ticker: KO) today reported second quarter 2022 earnings results that demonstrate resilience in the marketplace amidst ongoing global challenges.
Disclaimer - Nothing in this post is financial advise
The Company known as the biggest beverage company in the world, achieved a net revenue of $11.3 billion, resulting in a growth of 12% year-over-year. Beating expectations by over $700 million.
While free cash flow from operations was $4.5 billion year-to-date, a decline of 18% compared to the previous year, Coca-Cola projected a total of $10.5 billion for the year ending.
Coca-Cola lifting guidance
The Company also said in its Q2 earnings, that it now expects organic revenue growth of 12% to 13%. Previous guidance for growth ranged from 7% to 8%.
Earnings by numbers:
Global Unit Case Volume Grew 8%
Net Revenues Grew 12%;
Organic Revenues (Non-GAAP) Grew 16%
Operating Income Declined 22%;
Comparable Currency Neutral Operating Income (Non-GAAP) Grew 15%
Operating Margin Was 20.7% Versus 29.8% in the Prior Year;
Comparable Operating Margin (Non-GAAP) Was 30.7% Versus 31.7% in
the Prior Year
EPS Declined 28% to $0.44; Comparable EPS (Non-GAAP) Grew 4% to $0.70
Shares of Coca-Cola traded up 1% during pre-market after its second-quarter earnings release.
Disclaimer - Nothing in this post is financial advise
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