The company said net revenues for Q4 2024 rose 6% to $11.5 billion, while full-year net revenues grew 3% to $47.1 billion. It said organic revenues (non-GAAP) grew 14% and 12%, respectively. Global unit case volume rose 2% in Q4 and 1% for the full year.

1. 01

   The company said net revenues for Q4 2024 rose 6% to $11.5 billion, while full-year net revenues grew 3% to $47.1 billion. It said organic revenues (non-GAAP) grew 14% and 12%, respectively. Global unit case volume rose 2% in Q4 and 1% for the full year.

2. 02

   The company said full-year operating income declined 12%, and operating margin was 21.2% (versus 24.7% in the prior year). It also said full-year operating margin included a charge of $3.1 billion related to the remeasurement of the contingent consideration liability to fair value in connection with the fairlife acquisition in 2020.

3. 03

   The company said cash flow from operations for 2024 fell to $6.8 billion, and free cash flow (non-GAAP) declined to $4.7 billion from the prior year. It cited the IRS tax litigation deposit of $6.0 billion as a factor in the decline. Excluding that deposit, free cash flow was $10.8 billion.

4. 04

   The company presented its 2025 outlook for organic revenue (non-GAAP) growth of 5% to 6% and comparable currency neutral EPS (non-GAAP) growth of 8% to 10%. It also expects free cash flow excluding the fairlife contingent consideration payment (non-GAAP) of about $9.5 billion.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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