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Coca-Cola posted a 10 percent increase in fourth-quarter revenue to $9.5 billion, boosted by its $5.6 billion acquisition of sports performance and hydration drinks, BodyArmor.
The soda company’s hydration, sports, coffee, and tea segment grew 12 percent for the quarter, with sports drinks growing 18 percent.
According to Coke, BodyArmor was the No. 2 sports drink in the US in 2021 based on measured retail channels.
Coke acquired the remaining 85 percent shares of BodyArmor that it didn’t own in November.
BodyArmor will be managed as a separate business within Coca-Cola’s North America operating unit.
In 2021, Coke’s revenue soared 17 percent to $38.7 billion, with operating income dropping l 15 percent due to the “timing of concentrate shipments.”
Coca-Cola expects organic revenue growth of 7 to 8 percent in 2022 and commodity price inflation to be in the “mid-single-digit percentage.”
Meanwhile, Coca-Cola’s rival Pepsi recorded a fourth-quarter revenue of $25.25 billion, beating analysts’ estimates of $24.24 billion. It expects a 6 percent revenue growth in 2022.
Pepsi CEO Ramon Laguarta revealed that they expanded production capacity for its Gatorade sports drink, reportedly hit by supply chain issues related to bottle supply.
Both Coke and Pepsi attributed some of their revenue success to price hikes.
