---
schema_version: "secwatch.filing_event.v1"
accession: "0000317540-23-000048"
form_type: "8-K"
ticker: "COKE"
cik: "0000317540"
company_name: "Coca-Cola Consolidated, Inc."
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T03:28:52.335817+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Coca-Cola Consolidated Q3 net sales up 5% to $1.71B; operating income up 14%; net debt free for first time in 40 years

## Summary
- Q3 net sales $1.71B (+5% YoY); operating income $216M (+14% YoY); adjusted net income $164M vs $139M.
- Achieved net debt free status (cash > debt) for first time in ~40 years.
- Sparkling volume flat, Still volume down 5.4%; introduced Bang Energy into portfolio.
- Expect sales growth to slow in Q4 as fully cycle 2022 price increases; FY 2023 capex guidance $250-300M.
- Recorded non-cash pension settlement charge of $77.3M in Q3 ($117.1M YTD) impacting GAAP net income.

## SEC filing metadata
- accession: 0000317540-23-000048
- form_type: 8-K
- ticker: COKE
- cik: 0000317540
- company_name: Coca-Cola Consolidated, Inc.
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/317540/000031754023000048/0000317540-23-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/317540/000031754023000048/coke-20231101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000317540-23-000048
- JSON: https://secwatch.observer/filing/0000317540-23-000048.json
- Plain text: https://secwatch.observer/filing/0000317540-23-000048.txt

## Key facts
- Earnings Releases
  Coca-Cola Consolidated, Inc. reported the third quarter ended September 29, 2023 results: revenue $1,712.4, net income $92.1 million.
  - Period: the third quarter ended September 29, 2023
  - Revenue: $1,712.4
  - Net income: $92.1 million
  - Result: reported results
  source text: Key Results Third Quarter First Nine Months (in millions) 2023 2022 Change 2023 2022 Change Standard physical case volume (1) 91.8 93.1 (1.4)% 266.8 274.6 (2.8)% Net sales $1,712.4 $1,628.6 5.1% $5,022.9 $4,628.2 8.5% Gross profit $661.6 $621.1 6.5% $1,957.2 $1,679.3 16.5% Gross margin 38.6 % 38.1 % 39.0 % 36.3 % Income from operations $216.3 $189.9 13.9%
  evidence_url: https://www.sec.gov/Archives/edgar/data/317540/000031754023000048/0000317540-23-000048-index.htm
- Earnings Releases
  Coca-Cola Consolidated, Inc. reported the first nine months of fiscal 2023 results: revenue $5,022.9.
  - Period: the first nine months of fiscal 2023
  - Revenue: $5,022.9
  - Result: reported results
  source text: Quarter First Nine Months (in millions) 2023 2022 Change 2023 2022 Change Standard physical case volume (1) 91.8 93.1 (1.4)% 266.8 274.6 (2.8)% Net sales $1,712.4 $1,628.6 5.1% $5,022.9 $4,628.2 8.5% Gross profit $661.6 $621.1 6.5% $1,957.2 $1,679.3 16.5% Gross margin 38.6 % 38.1 % 39.0 % 36.3 % Income from operations $216.3 $189.9 13.9% $656.0 $468.2 40.1%
  evidence_url: https://www.sec.gov/Archives/edgar/data/317540/000031754023000048/0000317540-23-000048-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.