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Compared to Estimates, Coke (KO) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, Coca-Cola (KO - Free Report) reported revenue of $11.3 billion, up 2.9% over the same period last year. EPS came in at $0.72, compared to $0.68 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $10.95 billion, representing a surprise of +3.21%. The company delivered an EPS surprise of +4.35%, with the consensus EPS estimate being $0.69.
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: $730 million versus $752.97 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3.3% change.
Net Operating Revenue- North America: $4.17 billion versus the four-analyst average estimate of $3.95 billion. The reported number represents a year-over-year change of +6.9%.
Net Operating Revenue- Latin America: $1.53 billion versus the four-analyst average estimate of $1.44 billion. The reported number represents a year-over-year change of +10.2%.
Net Operating Revenue- Asia Pacific: $1.47 billion versus $1.31 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.2% change.
Net Operating Revenues- Europe, Middle East & Africa: $1.97 billion compared to the $2.09 billion average estimate based on four analysts. The reported number represents a change of -2.5% year over year.
Net Operating Revenue- Bottling investments- Total: $1.82 billion versus $1.77 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6.6% change.
Net Operating Revenue- Corporate- Total: $27 million compared to the $27.17 million average estimate based on three analysts. The reported number represents a change of +8% year over year.
Net Operating Revenues- Intersegment: -$417 million versus -$339.34 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.9% change.
Operating Income- Global Venture- Non-GAAP: $54 million compared to the $58.32 million average estimate based on three analysts.
Operating Income- Europe, Middle East & Africa- Non-GAAP: $1.06 billion versus the three-analyst average estimate of $1.14 billion.
Operating Income- Bottling Investments- Non-GAAP: $154 million versus $134.43 million estimated by three analysts on average.
Operating Income- Corporate- Non-GAAP: -$379 million compared to the -$282.68 million average estimate based on three analysts.
Shares of Coke have returned +2.2% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Coke (KO) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, Coca-Cola (KO - Free Report) reported revenue of $11.3 billion, up 2.9% over the same period last year. EPS came in at $0.72, compared to $0.68 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $10.95 billion, representing a surprise of +3.21%. The company delivered an EPS surprise of +4.35%, with the consensus EPS estimate being $0.69.
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: $730 million versus $752.97 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3.3% change.
- Net Operating Revenue- North America: $4.17 billion versus the four-analyst average estimate of $3.95 billion. The reported number represents a year-over-year change of +6.9%.
- Net Operating Revenue- Latin America: $1.53 billion versus the four-analyst average estimate of $1.44 billion. The reported number represents a year-over-year change of +10.2%.
- Net Operating Revenue- Asia Pacific: $1.47 billion versus $1.31 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.2% change.
- Net Operating Revenues- Europe, Middle East & Africa: $1.97 billion compared to the $2.09 billion average estimate based on four analysts. The reported number represents a change of -2.5% year over year.
- Net Operating Revenue- Bottling investments- Total: $1.82 billion versus $1.77 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6.6% change.
- Net Operating Revenue- Corporate- Total: $27 million compared to the $27.17 million average estimate based on three analysts. The reported number represents a change of +8% year over year.
- Net Operating Revenues- Intersegment: -$417 million versus -$339.34 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.9% change.
- Operating Income- Global Venture- Non-GAAP: $54 million compared to the $58.32 million average estimate based on three analysts.
- Operating Income- Europe, Middle East & Africa- Non-GAAP: $1.06 billion versus the three-analyst average estimate of $1.14 billion.
- Operating Income- Bottling Investments- Non-GAAP: $154 million versus $134.43 million estimated by three analysts on average.
- Operating Income- Corporate- Non-GAAP: -$379 million compared to the -$282.68 million average estimate based on three analysts.
View all Key Company Metrics for Coke here>>>Shares of Coke have returned +2.2% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.