US: Coca-Cola reports 26% rise in annual income

The Coca-Cola Company today reported net income of $9.77 billion, up 26% on the $7.75 billion in net income reported for 2021. Net operating revenue for the year was $38.66 billion, up 17% compared to $33.01 billion reported for last year.

The Atlanta, Georgia-based drinks giant also reported results for the final quarter of 2021. Its net income for the period was $2.41 billion, up 66% on the $1.46 million reported for Q4 2021. Revenue for the quarter was $9.46 billion, a 10% rise on the Q4 2021 figure of $ 8.61 million.

The Coca-Cola Company’s chairman and chief executive James Quincey said: “The Coca-Cola Company today reported fourth-quarter and full-year 2021 results, including another quarter of sequential improvement in volume trends compared to 2019. In 2021, our system demonstrated resilience and flexibility by successfully navigating through another year of uncertainty.

“We focused on our key strategies and emerged stronger. We are confident that progress on our strategic transformation has made us a nimbler total beverage company. While the environment remains dynamic, we will build on the momentum from 2021 to drive top-line growth and maximise returns.”