Coca-Cola announces refreshing financial results for 2023 year-end

The Coca-Cola Company reported its Q4 and full-year 2023 financial results today, including an increase in both revenues and gross profit.

The results represented marginal growth for 2023 for the company, after a busy 2022 for the brand.

In terms of sales volumes, the famous beverage company’s global unit case sales grew, although free cash flow was done somewhat.

Expectations ahead of results announcement

Prior to the company announcing these results, the market had modestly high hopes for Coca-Cola, with most analysts seeming to predict revenue growth of around 6% to 7% YoY for Q4 of 2023.

Investors and market participants alike also seemed to expect an uptick in profits, with a 10% rise in net income, to around $10.7 billion, predicted for Q4.

In terms of shareholders’ expectations, an increase of Coca-Cola’s EPS to around $0.49 per share was also anticipated.

Comparison to previous year

Looking at the company’s year-end 2022 results, the difference is even more pronounced. Here are the vital statistics for FY 2022:

• Global unit case volume declined 1% for Q4 2022, but overall increased 5% for the full year
• Net revenues grew 7% for Q4 2022 and grew 5% for the full year
• Operating income grew an impressive 24% for Q4 2022 and 6% for the full 2022 year
• However, free cash flow was down 13% in Q4 2022, and down 15% for the full year

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