Coca-Cola adjusted non-GAAP earnings for the three months ending in December came in at 45 cents per share, matching the Street expectations. The figure is flattish to the year-ago quarter.
The beverage giant’s revenues climbed +6.65% to $10.1 billion, exceeding analysts' expectations of $10.02 billion. The group's operating margin expanded by 160 basis points to 22.7%. “While 2022 brought many challenges, we are proud of our overall results in a dynamic operating environment,” said CEO James Quincey. “As we begin 2023, we continue to invest in our capabilities and strengthen alignment with our bottling partners to maintain flexibility".
Looking into the 2023 financial year, Coca-Cola is expecting revenue growth of between 7% and 8% and adjusted earnings growth of between 4% to 5% from 2021 levels.