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Coke (KO) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Coca-Cola (KO - Free Report) reported $11.95 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 8%. EPS of $0.74 for the same period compares to $0.69 a year ago.
The reported revenue represents a surprise of +4.39% over the Zacks Consensus Estimate of $11.45 billion. With the consensus EPS estimate being $0.69, the EPS surprise was +7.25%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Coke performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Operating Revenue- Global Ventures: $779 million compared to the $740.93 million average estimate based on four analysts. The reported number represents a change of +14.7% year over year.
Net Operating Revenue- North America- Total: $4.46 billion compared to the $4.35 billion average estimate based on four analysts. The reported number represents a change of +6.2% year over year.
Net Operating Revenue- Latin America- Total: $1.57 billion compared to the $1.43 billion average estimate based on four analysts. The reported number represents a change of +24.2% year over year.
Net Operating Revenue- Asia Pacific- Total: $1.40 billion versus the four-analyst average estimate of $1.45 billion. The reported number represents a year-over-year change of -1.8%.
Net Operating Revenues- Europe, Middle East & Africa: $2.18 billion versus the four-analyst average estimate of $2.01 billion. The reported number represents a year-over-year change of +9.5%.
Net Operating Revenue- Bottling investments- Total: $1.86 billion versus $1.75 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.1% change.
Net Operating Revenue- Corporate- Total: $40 million versus $29.53 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +37.9% change.
Net Operating Revenues- Intersegment: -$340 million versus -$296.36 million estimated by three analysts on average.
Operating Income- Global Venture- Non-GAAP: $78 million versus $80.77 million estimated by three analysts on average.
Operating Income- Europe, Middle East & Africa- Non-GAAP: $1.12 billion versus $1.05 billion estimated by three analysts on average.
Operating Income- Bottling Investments- Non-GAAP: $123 million compared to the $65.62 million average estimate based on three analysts.
Operating Income- Corporate- Non-GAAP: -$473 million versus -$391.87 million estimated by three analysts on average.
Shares of Coke have returned -5.1% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Coke (KO) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Coca-Cola (KO - Free Report) reported $11.95 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 8%. EPS of $0.74 for the same period compares to $0.69 a year ago.
The reported revenue represents a surprise of +4.39% over the Zacks Consensus Estimate of $11.45 billion. With the consensus EPS estimate being $0.69, the EPS surprise was +7.25%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Coke performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Operating Revenue- Global Ventures: $779 million compared to the $740.93 million average estimate based on four analysts. The reported number represents a change of +14.7% year over year.
- Net Operating Revenue- North America- Total: $4.46 billion compared to the $4.35 billion average estimate based on four analysts. The reported number represents a change of +6.2% year over year.
- Net Operating Revenue- Latin America- Total: $1.57 billion compared to the $1.43 billion average estimate based on four analysts. The reported number represents a change of +24.2% year over year.
- Net Operating Revenue- Asia Pacific- Total: $1.40 billion versus the four-analyst average estimate of $1.45 billion. The reported number represents a year-over-year change of -1.8%.
- Net Operating Revenues- Europe, Middle East & Africa: $2.18 billion versus the four-analyst average estimate of $2.01 billion. The reported number represents a year-over-year change of +9.5%.
- Net Operating Revenue- Bottling investments- Total: $1.86 billion versus $1.75 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.1% change.
- Net Operating Revenue- Corporate- Total: $40 million versus $29.53 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +37.9% change.
- Net Operating Revenues- Intersegment: -$340 million versus -$296.36 million estimated by three analysts on average.
- Operating Income- Global Venture- Non-GAAP: $78 million versus $80.77 million estimated by three analysts on average.
- Operating Income- Europe, Middle East & Africa- Non-GAAP: $1.12 billion versus $1.05 billion estimated by three analysts on average.
- Operating Income- Bottling Investments- Non-GAAP: $123 million compared to the $65.62 million average estimate based on three analysts.
- Operating Income- Corporate- Non-GAAP: -$473 million versus -$391.87 million estimated by three analysts on average.
View all Key Company Metrics for Coke here>>>Shares of Coke have returned -5.1% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.