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 increased by 3% year-over-year to $12.36B, but this represents a slowdown from previous quarters. This is attributed to a combination of factors including volume growth, price changes, and currency fluctuations.
Gross profit margin increased to 61.1% in Q2 2024 compared to 59.0% in Q2 2023, primarily due to favorable pricing and refranchising of bottling operations. This was partially offset by higher commodity costs and unfavorable currency fluctuations.
Operating income rose to $2.63B in Q2 2024 compared to $2.40B in Q2 2023, a 10% increase. This growth was driven by increased concentrate sales volume and pricing initiatives, but these were partially offset by factors such as refranchising, higher costs, and currency fluctuations.