Coca-Cola Consolidated, Inc. reports developments for a Nasdaq-listed beverage bottler that manufactures, markets and distributes nonalcoholic beverages within the Coca-Cola system. Its portfolio includes sparkling beverages led by Coca-Cola and still products such as bottled water, ready-to-drink tea and coffee, enhanced water, juices, sports drinks and energy products.
Recurring announcements cover quarterly and annual operating results, beverage volume, net sales, gross profit, operating income, margins and pricing or commodity-cost context. Company updates also include dividends on Common Stock and Class B Common Stock, share repurchases, manufacturing-capacity investments and governance changes tied to its ownership and board structure.
Coca-Cola Consolidated reported a 6.4% increase in net sales to $1,173.0 million for Q1 2020, driven by a 6.1% rise in physical case volume. Gross profit rose by $16.0 million (4.1%), despite a decrease in gross margins to 34.6%. Income from operations surged to $32.8 million, up 62.9% year-over-year. However, the company anticipates challenges ahead due to COVID-19, with a shift to multi-serve packages impacting future sales. Net income improved significantly to $14.7 million from a loss of $6.8 million. Cash flows from operations increased to $32.3 million.