Coca-Cola Clocks 7% Revenue Growth In Q4; Bottom-Line Matches Street View

Coca-Cola Co KO reported fourth-quarter FY22 sales growth of 7% year-on-year to $10.125 billion, beating the consensus of $10.02 billion.
Revenue performance included a 2% growth in concentrate sales and a 12% growth in price/mix.
Unit case volume declined 1% for the quarter.
Gross profit rose 4% to $5.6 billion with a profit margin of 55.4%.
The operating margin expanded 280 basis points to 20.5%, while the comparable operating margin gained 60 basis points to 22.7%.
Operating income for the quarter increased 24% to $2.1 billion.
Adjusted EPS of $0.45 was in-line with the analyst consensus.
Cash flow generated from operating activities for the year was $11 billion, a 13% decline Y/Y.
It held $9.5 billion in cash and equivalents as of Dec. 31, 2022.
Outlook: Coca-Cola sees FY23 organic revenue growth of 7%-8%, comparable currency neutral EPS growth of 7%-9% and comparable EPS growth of 4%-5% versus $2.48 in 2022.
Coca-Cola expects FY23 free cash flow of about $9.5 billion and $11.4 billion in cash flow from operations.
Price Action: KO shares are trading higher by 0.08% at $60.65 on the last check Tuesday.

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