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.
Q1 2024 net operating revenues reached $11.3 billion, a 3% increase compared to Q1 2023's $10.98 billion. This growth surpasses initial market projections and indicates strong demand for the company's products.
Operating income decreased by 36% year-over-year to $2.14 billion in Q1 2024. Higher commodity costs, increased marketing spending, unfavorable currency exchange rates, and higher other operating charges offset favorable pricing initiatives.
Gross profit margin increased to 62.5% in Q1 2024, compared to 60.7% in Q1 2023. This improvement suggests effective pricing strategies and operational efficiencies.