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Reporting First Quarter 2021 Earnings
Continued track record of robust growth, profitability and cash generation
Tuesday, April 27, 2021
On April 27, 2021, we reported our first quarter 2021 results.
"Our first quarter results demonstrate that we are emerging from the COVID-19 pandemic stronger, as we continue to build upon our track record of robust growth, profitability and cash generation," said Dirk Van de Put, Chairman and Chief Executive Officer. "We saw continued improvement across emerging markets, healthy demand in developed markets and another quarter of strong share performance. We remain squarely focused on accelerating growth by further strengthening our core brand and expanding our presence in high-growth channels, categories and adjacencies. Our strategy is working, and our business is better positioned than ever before.”
First quarter highlights:
- Net revenues increased 7.9% driven by Organic Net Revenue1 growth of 3.8%, favorable currency and acquisitions
- Diluted EPS was $0.68, up 33.3%; Adjusted EPS1 was $0.77, up 10.6% on a constant-currency basis
- Cash provided by operating activities was $915 million; Free Cash Flow1 was $699 million
- Return of capital to shareholders was $1.5 billion
For more information, see our press release here.
1. Organic Net Revenue, Adjusted Gross Profit (and Adjusted Gross Profit margin), Adjusted Operating Income (and Adjusted Operating Income margin), Adjusted EPS, Free Cash Flow and presentation of amounts in constant currency are non-GAAP financial measures. Please see discussion of non-GAAP financial measures at the end of the press release for more information.