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CLAIM #35530 · The Coca-Cola Company (KO) · 2024Q1 earnings call · Apr 30, 2024 · due Dec 31, 2024

So as we think about the full year, we're going to continue to have a tailwind from the refranchising work that we have discussed. And so I think that's going to flow through throughout the year.

John Murphy · CFO

PENDING
graded after results covering Dec 31, 2024 are reported

In context

nk of America. Bryan Spillane: John, I wanted to ask a question about gross margins. In the quarter, there was about a 100 basis point tailwind from structural benefits and then also -- or structural change and then, I think, 60 basis points benefit underlying. If we kind of take that first quarter performance and kind of think about it over the balance of the year, can you just give us some context of how we should be thinking how much of that we should extrapolate going forward? Maybe what some of the headwinds, tailwinds would be? But just given the gross margins were so much better, our gross profit dollars were so much better than we were all modeling. I just want to kind of get a sense of how much of that we should bank in our estimates going forward. John Murphy: Thanks, Bryan. So as we think about the full year, we're going to continue to have a tailwind from the refranchising work that we have discussed. And so I think that's going to flow through throughout the year. We expect to continue to have some expansion as reflected in our ongoing and the growth model, driven by both positive impacts and some productivity fee. The input horizon is more normalized. We do have some elevation on juice and sugar, which we'll continue to have. But the net of it all is that we'll have some tailwinds in the underlying area. Currency will continue to be a headwind, and you can kind of extrapolate that out for the year. So the net of it all is it will be primarily driven by the refranchising efforts positively, some underlying expansion, offset by the currency headwind. And as we reflected in our guidance, the top line growth continues to be a primary driver and the quality therein will -- I think will ensure that on a sustained basis, that expansion. Albeit not as po

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SEC filings for KO · Claim quote is verbatim from the 2024Q1 earnings call.