Coca-Cola Co. this week reported fourth-quarter and full-year 2020 results, including sequential improvement in volume trend. The beverage giant noted that the pandemic is still hurting its sales, but cost-cutting measures helped the company beat analysts’ earnings estimates.
Here are some highlights from Coke’s 2020 fourth quarter and full year:
- Net revenues declined 5% for the quarter and 11% for the full year; organic revenues (non-GAAP) declined 3% for the quarter and 9% for the full year.
- Operating income grew 8% for the quarter and declined 11% for the full year; comparable currency neutral operating income (non-GAAP) grew 14% for the quarter and was even for the full year.
- Fourth-quarter EPS declined 29% to $0.34, and comparable EPS (non-GAAP) grew 6% to $0.47; full-year EPS declined 13% to $1.79, and comparable EPS (non-GAAP) declined 8% to $1.95.
- Cash from operations was $9.8 billion for the full year, down 6%; full-year free cash flow (non-GAAP) was $8.7 billion, up 3%.
"In 2020, employees from across The Coca-Cola Company and its bottling system worked tirelessly to learn and adapt amidst a global crisis," said chairman and chief executive James Quincey. "The progress we made in 2020, including the actions taken to accelerate the transformation of our company, gives us confidence in returning to growth in the year ahead. While near-term uncertainty remains, we are well-positioned to emerge stronger from the crisis, driven by our purpose and our beverages for life ambition."
Click here to see Coca-Cola’s full announcement and operating review tables.
