Coca-Cola Company (NYSE:KO) reported third-quarter FY23 sales growth of 8% year-on-year to $11.95 billion, beating the analyst consensus estimate of $11.44 billion.
Revenue performance included a 2% growth in concentrate sales and a 9% growth in price/mix.
Unit case volume grew 2% in the quarter. Organic revenues increased 11%.
Gross profit rose 12% to $7.296 billion with a profit margin of 61%.
The operating margin contracted 50 basis points to 27.4%, while the comparable operating margin gained 20 basis points to 29.7%.
Operating income for the quarter increased 6% to $3.27 billion.
Adjusted EPS of $0.74 beat the analyst consensus estimate of $0.69.
Operating cash flow generated year-to-date was $8.9 billion, an increase of $861 million from the prior year.
KO held $15.4 billion in cash and equivalents as of Sept. 29, 2023.
Coca-Cola’s regular quarterly dividend of $0.46 per common share is payable Dec. 15 to shareowners of record of the company as of the close of business Dec. 1.