Coca-Cola sees FY24 organic revenue growth 8%-9%, consensus $42.83B

The company expects to deliver organic revenue (non-GAAP) growth of 8% to 9%, which consists of operating performance at the high end of the company’s long-term growth model and the anticipated pricing impact of a number of markets experiencing intense inflation. For comparable net revenues (non-GAAP), the company expects a 4% to 5% currency headwind based on the current rates and including the impact of hedged positions. Comparable EPS (non-GAAP) percentage growth is expected to include a 7% to 8% currency headwind based on the current rates and including the impact of hedged positions. The majority of currency headwinds are due to currency devaluation resulting from intense inflation. The company’s underlying effective tax rate (non-GAAP) is estimated to be 19.0%. This does not include the impact of ongoing tax litigation with the U.S. Internal Revenue Service, if the company were not to prevail. The company expects to deliver comparable currency neutral EPS (non-GAAP) growth of 11% to 13%. The company expects comparable EPS (non-GAAP) growth of 4% to 5%, versus $2.69 in 2023. The company expects to generate free cash flow (non-GAAP) of approximately $9.2 billion through cash flow from operations of approximately $11.4 billion, less capital expenditures of approximately $2.2 billion. This does not include any potential payments related to ongoing tax litigation with the IRS.