KO Q1 2023 Earnings Report — The Coca-Cola Company Revenue & Financial Results | Market Cap Arena

The Coca-Cola CompanyKO

Q1 2023 Earnings

Reported April 26, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2023	Q4 2022	Q1 2022	QoQ Change	YoY Change
Revenue	$11.0B	—	$10.5B	—	4.7%
Op. Income	$3.4B	—	$3.4B	—	-1.1%
Gross Margin	60.7%	—	61.0%	—	-0.3pp
Net Margin	28.3%	—	26.5%	—	1.8pp
EPS (Diluted)	$0.72	—	$0.64	—	12.5%
Free Cash Flow	-$116M	—	$406M	—	-128.6%

Revenue Flow

Item	Amount
REVENUE	$11.0B
Cost of Revenue	$4.3B
GROSS PROFIT	$6.7B
R&D Expenses	$0
Selling & Marketing	$1.1B
General & Administrative	$2.1B
SG&A Expenses	$3.2B
Other Expenses	$124M
Operating Expenses	$3.3B
Cost & Expenses	$7.6B
OPERATING INCOME	$3.4B
Interest Income	$168M
Interest Expense	$372M
Other Income/Expenses	$686M
INCOME BEFORE TAX	$4.1B
Income Tax Expense	$940M
Net Income from Continuing Ops	$3.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.1B
D&A	$286M
EBIT	$4.4B
EBITDA	$4.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$11.0B
Cost of Revenue	$4.3B
GROSS PROFIT	$6.7B
R&D Expenses	$0
Selling & Marketing	$1.1B
General & Administrative	$2.1B
SG&A Expenses	$3.2B
Other Expenses	$124M
Operating Expenses	$3.3B
Cost & Expenses	$7.6B
OPERATING INCOME	$3.4B
Interest Income	$168M
Interest Expense	$372M
Other Income/Expenses	$686M
INCOME BEFORE TAX	$4.1B
Income Tax Expense	$940M
Net Income from Continuing Ops	$3.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.1B
D&A	$286M
EBIT	$4.4B
EBITDA	$4.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$3.1B
Depreciation & Amortization	$286M
Stock-Based Compensation	$58M
Deferred Income Tax	$260M
Other Non-Cash Items	-$680M
Change in Working Capital	-$2.9B
OPERATING CASH FLOW	$160M
Capital Expenditure	-$276M
Acquisitions (Net)	$299M
Purchases of Investments	-$739M
Sales/Maturities of Investments	$815M
Other Investing Activities	$18M
NET CASH FROM INVESTING	$117M
Net Debt Issuance	$2.9B
Common Stock Repurchased	-$848M
Common Dividends Paid	-$101M
Other Financing Activities	-$115M
NET CASH FROM FINANCING	$2.1B
FREE CASH FLOW	-$116M
Net Change in Cash	$2.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$12.0B
Short-Term Investments	$2.3B
Net Receivables	$4.6B
Inventory	$4.7B
Other Current Assets	$3.3B
TOTAL CURRENT ASSETS	$26.9B
PP&E (Net)	$9.8B
Goodwill	$18.7B
Intangible Assets	$14.9B
Long-Term Investments	$22.3B
Tax Assets	$1.7B
Other Non-Current Assets	$3.1B
TOTAL NON-CURRENT ASSETS	$70.5B
TOTAL ASSETS	$97.4B
Account Payables	$15.6B
Short-Term Debt	$6.3B
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$23.4B
Long-Term Debt	$36.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$3.2B
Other Non-Current Liabilities	$7.9B
TOTAL NON-CURRENT LIABILITIES	$47.2B
TOTAL LIABILITIES	$70.5B
Common Stock	$1.8B
Additional Paid-In Capital	$18.9B
Retained Earnings	$72.1B
Treasury Stock	-$53.2B
Accum. Other Comp. Income	-$14.3B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$25.2B
Minority Interest	$1.7B
TOTAL EQUITY	$26.9B
TOTAL LIABILITIES & EQUITY	$97.4B
Total Debt	$42.4B
Net Debt	$30.4B