earnings
confidence high
sentiment positive
materiality 0.70
Coca-Cola Consolidated Q3 net sales +3%; operating income +5% to $227M
Coca-Cola Consolidated, Inc.
- Net sales $1.766B (+3.1% YoY); gross margin 39.5% (+90 bps).
- Income from operations $227M (+5%); operating margin 12.9% (+30 bps).
- Sparkling bottle/can sales +5.8%; still category volume declined 9.7% due to Dasani distribution shift.
- Net income $115.6M vs $92.1M; adjusted net income for 9-month period up $33.6M.
- Purchased Nashville production facility for $56M; expects 2024 capex ~$350M.