earnings
confidence high
sentiment positive
materiality 0.70
Coca-Cola Consolidated Q2 net sales up 3.3%, operating income +11% to $259M
Coca-Cola Consolidated, Inc.
- Net sales $1.796B (+3.3%); gross margin expanded 130 bps to 39.9%.
- Operating income $259M (+11%), operating margin 14.4% vs 13.4%.
- Net income $172.8M vs $122.3M; adjusted net income $192.8M vs $172.5M.
- Standard physical case volume down 1.2%; pricing drove sales growth.
- Reaffirmed FY2024 capex $300-350M; significant share repurchase in Q2.