Consumer Staples
Beverages - Non-Alcoholic
$269.37B
79.1K
Key insights and themes extracted from this filing
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.