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Coca-Cola Shares Gain On Strong Q2 Earnings, Raised FY21 Outlook

Benzinga2021-07-21

  • Coca-Cola Co reported second-quarter FY21 net revenue growth of 41.3% year-on-year to $10.1 billion, beating the analyst consensus of $9.25 billion. Unit case volume grew 18% in the quarter.
  • Revenue growth was driven by the ongoing recovery in markets as the coronavirus-related uncertainty is starting to decrease.
  • Revenue performance included 26% growth in concentrate sales and 11% growth in price/mix.
  • The operating margin was 29.8%, while the comparable operating margin improved to 31.7%. Operating income for the quarter rose 52% to $3.02 billion.
  • Cash flow generated from operating activities was $5.5 billion.
  • Comparable EPS of $0.68 beat the analyst consensus of $0.55.
  • "Our results in the second quarter show how our business is rebounding faster than the overall economic recovery, led by our accelerated transformation," said CEO James Quincey.
  • Outlook: Coca-Cola sees FY21 organic revenue growth of 12% - 14%, versus prior outlook for of high single digits growth.
  • It expects FY21 comparable EPS growth of 13% - 15%, versus previous guidance for percentage growth of high single digits to low double digits versus $1.95 in 2020. The growth expectations exceed analyst FY21 EPS consensus of $2.18.
  • Price action: KO shares are trading higher by 2.10% at $57.00 in premarket on the last check Wednesday.

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Comment25

  • kenlim45
    ·2021-07-27
    Good
    Reply
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  • glorify
    ·2021-07-26
    Great! ?
    Reply
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  • glorify
    ·2021-07-22
    Great!
    Reply
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    • Lovemeold
      [财迷]
      2021-07-26
      Reply
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  • Lamborghini1
    ·2021-07-22
    Yes
    Reply
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  • CYLiew
    ·2021-07-22
    Good for dividend.
    Reply
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    • Gaga71
      Yes good stOck for dividen play
      2021-07-22
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  • Jasminephyo
    ·2021-07-22
    Ok
    Reply
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  • EmmyLok
    ·2021-07-21
    wow
    Reply
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  • ricebowl
    ·2021-07-21
    Wow like pls
    Reply
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  • BhaskarB
    ·2021-07-21
    Wow
    Reply
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  • Willtan
    ·2021-07-21
    When is the EPS giving out?
    Reply
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  • glorify
    ·2021-07-21
    Great! ?
    Reply
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  • arvinho
    ·2021-07-21
    moon
    Reply
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  • arvinho
    ·2021-07-21
    moon
    Reply
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  • SmallYang
    ·2021-07-21
    Only the real thing! 
    Reply
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  • j______1
    ·2021-07-21
    Go go go..
    Reply
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  • jamesrayan
    ·2021-07-21
    nice
    Reply
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  • JeremyKok
    ·2021-07-21
    Too late to buy KO now. It has went up. Maybe can buy and hold when the next correction comes. Unless you are speculating for it to raise even further.
    Reply
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  • Enliven22
    ·2021-07-21
    Drink more buy more 
    Reply
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    • 王虎V
      yumseng
      2021-07-21
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  • AliPharma
    ·2021-07-21
    drink coke lets goooo
    Reply
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  • Williamw
    ·2021-07-21
    Up up up!
    Reply
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    • AliPharma
      lets goooooo
      2021-07-21
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