Sector: Consumer Staples|Industry: Beverages - Non-Alcoholic|Market Cap: $269.37B|Employees: 79.1K
The Coca-Cola Company is a total beverage company that manufactures and sells nonalcoholic beverages globally. Its primary revenue streams come from the sale of concentrates and syrups to independent bottling partners and finished beverages to retailers, wholesalers, and distributors. The company holds a leading market position with strong brand recognition and a wide global distribution network.
Net operating revenues reached $45.754 billion in 2023, compared to $43.004 billion in 2022, an increase of $2.750 billion or 6%. This growth exceeded expectations, driven primarily by a combination of volume growth and favorable pricing initiatives.
Gross profit margin improved to 59.5% in 2023 from 58.1% in 2022. This increase demonstrates the success of pricing initiatives and effective cost management strategies.
Operating income increased to $11.311 billion in 2023 from $10.909 billion in 2022, a 4% increase. While volume growth and pricing initiatives contributed positively, these gains were partially offset by higher commodity costs, increased marketing spending, and unfavorable foreign currency exchange rate fluctuations.