The company said net revenues for Q1 2025 declined 2% to $11.1 billion, and organic revenues (non-GAAP) grew 6%. It cited currency headwinds and the refranchising of bottling operations as factors behind the decline in net revenues.

1. 01

   The company said net revenues for Q1 2025 declined 2% to $11.1 billion, and organic revenues (non-GAAP) grew 6%. It cited currency headwinds and the refranchising of bottling operations as factors behind the decline in net revenues.

2. 02

   Coca-Cola said operating income for Q1 grew 71%, and operating margin was 32.9% versus 18.9% in the prior year, while comparable operating margin (non-GAAP) was 33.8% (prior year 32.4%). The company explained that operating margin results included items affecting comparability and currency headwinds.

3. 03

   The company said cash flow used in operations for Q1 was $5.2 billion, and free cash flow (non-GAAP) was negative at about $5.5 billion. It cited the fairlife contingent consideration payment of $6.1 billion as a factor in the decline versus the prior year, and said free cash flow excluding that payment was $558 million.

4. 04

   The company outlined its 2025 full-year guidance, expecting organic revenue (non-GAAP) growth of 5% to 6% (No Update) and comparable currency neutral EPS (non-GAAP) growth of 7% to 9% (Updated). It also expects free cash flow excluding the fairlife contingent consideration payment (non-GAAP) of approximately $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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.