Coca-Cola Consolidated reports FY23 net sales +7%, operating income +30% to $834M, margin 12.5%

Coca-Cola Consolidated, Inc.

FY23 net sales $6.65B (+7.3%); gross profit $2.60B (+14.1%); operating income $834.5M (+30.2%).
Operating margin expanded 220 bps to 12.5% (FY22: 10.3%), driven by pricing and stable commodity costs.
Q4 net sales +3.7% to $1.63B; volume +1.1% (flat on comparable basis); gross margin +120 bps to 39.3%.
FY23 basic EPS $43.56; adjusted basic EPS $65.58; cash from operations $810.7M vs $554.5M in FY22.
FY24 capex guidance set at $300M-$350M; company cites strong balance sheet and momentum heading into 2024.

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