Coca-cola Bottling Co. Consolidated ( (COKE) ) has realeased its Q3 earnings. Here is a breakdown of the information Coca-cola Bottling Co. Consolidated presented to its investors.
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Coca-Cola Consolidated, Inc., headquartered in Charlotte, N.C., is the largest Coca-Cola bottler in the United States, distributing a wide range of beverages across 14 states and the District of Columbia.
In its third quarter earnings report for 2024, Coca-Cola Consolidated announced a 3% increase in net sales compared to the same period in 2023, driven by strong performance in its sparkling beverage category and strategic pricing actions.
The company’s gross profit rose by 5.5% to $698 million, with a gross margin improvement to 39.5%. Operating income also saw a 5% increase, reaching $227 million, while net income for the third quarter grew significantly to $115.6 million. Despite a 2.1% decline in standard physical case volume, the sparkling beverage segment showed resilience with a 5.8% increase in net sales. This was offset by challenges in the still beverage category, including a distribution shift for Dasani water.
Coca-Cola Consolidated continues to reinvest in its business, notably through the acquisition of its Nashville production facility and ongoing enhancements to its supply chain. The management remains optimistic about future growth, with plans to bolster its still beverage offerings and a commitment to community support in the wake of Hurricane Helene.
Looking ahead, Coca-Cola Consolidated is focused on maintaining its positive momentum through strategic investments, disciplined expense management, and leveraging its strong brand portfolio to drive long-term value.
