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Compared to Estimates, Coca-Cola (KO) Q3 Earnings: A Look at Key Metrics
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Coca-Cola (KO - Free Report) reported $11.85 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 0.8%. EPS of $0.77 for the same period compares to $0.74 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $11.61 billion, representing a surprise of +2.08%. The company delivered an EPS surprise of +4.05%, with the consensus EPS estimate being $0.74.
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 Coca-Cola 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: $781 million versus $787.75 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +0.3% change.
Net Operating Revenue- North America: $4.98 billion versus the four-analyst average estimate of $4.60 billion. The reported number represents a year-over-year change of +11.7%.
Net Operating Revenue- Latin America: $1.64 billion versus the four-analyst average estimate of $1.59 billion. The reported number represents a year-over-year change of +4.1%.
Net Operating Revenue- Asia Pacific: $1.35 billion versus $1.36 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.8% change.
Net Operating Revenues- Europe, Middle East & Africa: $2.02 billion compared to the $2.15 billion average estimate based on four analysts. The reported number represents a change of -7.2% year over year.
Net Operating Revenue- Bottling investments- Total: $1.32 billion versus $1.42 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -29.2% change.
Net Operating Revenue- Corporate- Total: $18 million versus $36.93 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -55% change.
Net Operating Revenues- Intersegment: -$252 million compared to the -$281.61 million average estimate based on three analysts. The reported number represents a change of -25.9% year over year.
Operating Income- Global Venture- Non-GAAP: $80 million versus $79 million estimated by three analysts on average.
Operating Income- Europe, Middle East & Africa- Non-GAAP: $990 million versus the three-analyst average estimate of $1.13 billion.
Operating Income- Bottling Investments- Non-GAAP: $41 million versus the three-analyst average estimate of $86.21 million.
Operating Income- Corporate- Non-GAAP: -$426 million compared to the -$437.05 million average estimate based on three analysts.
Shares of Coca-Cola have returned -2.6% over the past month versus the Zacks S&P 500 composite's +2.7% 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, Coca-Cola (KO) Q3 Earnings: A Look at Key Metrics
Coca-Cola (KO - Free Report) reported $11.85 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 0.8%. EPS of $0.77 for the same period compares to $0.74 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $11.61 billion, representing a surprise of +2.08%. The company delivered an EPS surprise of +4.05%, with the consensus EPS estimate being $0.74.
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 Coca-Cola 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: $781 million versus $787.75 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +0.3% change.
- Net Operating Revenue- North America: $4.98 billion versus the four-analyst average estimate of $4.60 billion. The reported number represents a year-over-year change of +11.7%.
- Net Operating Revenue- Latin America: $1.64 billion versus the four-analyst average estimate of $1.59 billion. The reported number represents a year-over-year change of +4.1%.
- Net Operating Revenue- Asia Pacific: $1.35 billion versus $1.36 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.8% change.
- Net Operating Revenues- Europe, Middle East & Africa: $2.02 billion compared to the $2.15 billion average estimate based on four analysts. The reported number represents a change of -7.2% year over year.
- Net Operating Revenue- Bottling investments- Total: $1.32 billion versus $1.42 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -29.2% change.
- Net Operating Revenue- Corporate- Total: $18 million versus $36.93 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -55% change.
- Net Operating Revenues- Intersegment: -$252 million compared to the -$281.61 million average estimate based on three analysts. The reported number represents a change of -25.9% year over year.
- Operating Income- Global Venture- Non-GAAP: $80 million versus $79 million estimated by three analysts on average.
- Operating Income- Europe, Middle East & Africa- Non-GAAP: $990 million versus the three-analyst average estimate of $1.13 billion.
- Operating Income- Bottling Investments- Non-GAAP: $41 million versus the three-analyst average estimate of $86.21 million.
- Operating Income- Corporate- Non-GAAP: -$426 million compared to the -$437.05 million average estimate based on three analysts.
View all Key Company Metrics for Coca-Cola here>>>Shares of Coca-Cola have returned -2.6% over the past month versus the Zacks S&P 500 composite's +2.7% 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.