Coca-Cola Co.'s revenue climbed 10% to $9.5 billion in the fourth quarter as movie theaters, restaurants and coffee shops, among other venues, continued to reopen. The Atlanta-based beverage behemoth said its last quarter in 2021, ended Dec. 31, was the first time since the COVID pandemic hit in early 2020 that its away-from-home sales volumes exceeded 2019 levels.
For both the quarter and the full year, the company gained value share in total nonalcoholic ready-to-drink (NARTD) beverages, which included share gains in both at-home and away-from-home channels. The company’s value share in total NARTD beverages, and in both at-home and away-from-home channels, remains ahead of 2019.
Coca-Cola's 2021 financial points
- Global unit case volume grew 9% for the quarter and 8% for the full year.
- Net revenues grew 10% for the quarter and 17% for the full year; organic revenues (non-GAAP) grew 9% for the quarter and 16% for the full year.
- Operating income declined 28% for the quarter and grew 15% for the full year; comparable currency neutral operating income (non-GAAP) declined 12% for the quarter and grew 12% for the full year.
- Fourth-quarter EPS grew 65% to $0.56, and comparable EPS (mon-GAAP) declined 5% to $0.45; full-year EPS grew 26% to $2.25, and comparable EPS (non-GAAP) grew 19% to $2.32.
- Cash flow from operations was $12.6 billion for the full year, up 28%; full-year free cash flow (non-GAAP) was $11.3 billion, up 30%.