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Coca-Cola Co (NYSE:KO) reported fourth-quarter FY21 net revenue growth of 10% Y/Y, to $9.46 billion, beating the analyst consensus of $8.96 billion.
- Revenue performance included a 1% decline in concentrate sales and a 10% growth in price/mix.
- Unit case volume grew 9% for the quarter and 8% for the year, resulting in volume ahead of 2019.
- The operating margin contracted 950 basis points to 17.7%, while the comparable operating margin compressed 520 basis points to 22.1%. Operating income for the quarter declined 28% to $1.67 billion.
- Adjusted EPS of $0.45 beat the analyst consensus of $0.41.
- "In 2021, our system demonstrated resilience and flexibility by successfully navigating through another year of uncertainty," said Chairman and CEO James Quincey.
- Cash flow generated from operating activities for the twelve months rose 28% to $12.6 billion.
- Outlook: Coca-Cola sees FY22 organic revenue growth of 7% - 8%. It expects FY22 comparable EPS growth of 5% - 6%, versus $2.32 in 2021.
- Coca-Cola expects FY22 adjusted free cash flow of about $10.5 billion and $12 billion in cash flow from operations.
- Price Action: KO shares are trading higher by 0.92% at $61.60 in premarket on the last check Wednesday.
