Coca-Cola Consolidated reports Q1 2023 net sales up 12% to $1.57B, operating income +57%

Coca-Cola Consolidated, Inc.

Net sales $1.57B (+12% YoY); gross margin improved 360 bps to 39.7%.
Operating income $206.1M (+57% YoY); net income $118.1M vs $93.4M.
Standard case volume declined 3.1% (comparable -2.0%); sparkling volume up 0.2% on comparable basis.
Cash from operations $184.7M vs $130.9M; capex $52.7M in Q1, full-year guide $250-300M.
Strong pricing growth expected to slow as 2022 price increases are lapped.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

Coca-Cola Consolidated, Inc. reported first quarter ended March 31, 2023 results: revenue $1,571.6 million, net income $118.1 million.

Period: first quarter ended March 31, 2023
Revenue: $1,571.6 million
Net income: $118.1 million
Result: reported results

Exact text from the filing

teammate compensation to strategic supply chain projects, have been key to sustaining our business momentum and continuing to build on our success.” Net sales increased 12% to $1.57 billion in the first quarter of 2023. The increase in net sales was driven primarily by price increases taken across our product portfolio during the second half of 2022 and the

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Source: SEC EDGAR

accession 0000317540-23-000032

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