COCA-COLA INCREASED NET QUARTERLY PROFIT BY 48%

 


 

 

 

Coca-Cola, the world's largest soft-drink maker, increased its net profit in the second quarter of 2021 by 48%, with both adjusted numbers and revenue above market expectations.

"Our second-quarter results show that our business is recovering faster than the economy thanks to the sped-up transformation," said CEO James Quincy.

 

Coca-Cola's net income for the quarter ended July 2 was $ 2.641 billion, or 61 cents per share, up from $ 1.779 billion, or 41 cents a share, in the same period last year.

 

Profit excluding one-off factors rose 61% to 68 cents per share.

 

Coca-Cola's quarterly revenue increased 42% to $ 10.129 billion from $ 7.15 billion a year earlier. Organic growth was 37%.

 

Analysts polled by FactSet, on average, forecast the company's adjusted earnings of 56 cents per share on $ 9.31 billion in revenues.

 

Coca-Cola's revenue in the reporting period grew 28% in North America, 41% in Latin America, 27% in the Asia Pacific, and 67% in EMEA.

 

The volume of sales in physical terms increased by 18% in annual terms.

 

Carbonated drinks sales increased 14%, driven mainly by the United States, India, and Brazil. Sales of juices, dairy drinks, and plant-based drinks increased by 25%. Sales of water, sports drinks, coffee, and tea also increased by 25%.

 

The operating profit margin increased to 29.8% from 27.7% in the second quarter of 2020.

Coca-Cola has improved its financial outlook for 2021 as a whole. According to the new forecast, adjusted earnings per share will rise 12-15%. The indicator was earlier expected to grow in the range "from high single-digit numbers to low two-digit numbers in percentage terms."

 

The consensus forecast of experts surveyed by FactSet foresees an increase in the company's adjusted profit by 11.9%, to $ 2.18 per share, up from $ 1.95 per share in 2020.

 

     

 

 

 

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