Coca-Cola Consolidated Inc Stock Price, News & Analysis

Coca-Cola Consolidated (NASDAQ: COKE) announced that Executive Vice President and CFO Scott Anthony will retire effective March 31, 2025, after serving in the role since 2018. Matthew J. Blickley, currently Senior Vice President of Financial Planning and Chief Accounting Officer, will assume the position of Executive Vice President and CFO on April 1, 2025.

Blickley, who joined the company in 2014, will maintain his role as Chief Accounting Officer and report to Dave Katz, President and Chief Operating Officer. His background includes various financial roles within the company, including Corporate Controller, and he previously worked at PricewaterhouseCoopers LLP.

CEO J. Frank Harrison III credited Anthony's strategic leadership for the company's exceptional financial performance and strong stockholder returns since 2019. Anthony will continue to serve the company in a consultancy role following his retirement.

Coca-Cola Consolidated (NASDAQ: COKE) reported strong Q3 2024 results with net sales increasing 3.1% to $1.8 billion. Gross profit rose 5.5% to $698 million, with gross margin improving by 90 basis points to 39.5%. Income from operations grew 5% to $227.1 million, while net income increased to $115.6 million from $92.1 million in Q3 2023. Sparkling beverage sales showed robust growth of 5.8%, though standard physical case volume declined 2.1%. The company completed the purchase of its Nashville production facility for $56 million and expects capital expenditures of approximately $350 million for full-year 2024.

Coca-Cola Consolidated, Inc. (NASDAQ: COKE) has announced that it will release its third quarter and first nine months 2024 operating results on October 30, 2024, after the market closes. The report will cover the period ended September 27, 2024.

As the largest Coca-Cola bottler in the United States, Coca-Cola Consolidated operates across 14 states and the District of Columbia, serving approximately 60 million consumers. The company produces, sells, and distributes beverages of The Coca-Cola Company and other partners, offering over 300 brands and flavors.

With a history spanning over 122 years, Coca-Cola Consolidated emphasizes its commitment to consumers, customers, and communities. The company's purpose is centered on honoring God, serving others, pursuing excellence, and growing profitably.

Coca-Cola Consolidated (NASDAQ: COKE) has announced significant changes to its shareholder return strategy. The company's Board of Directors has increased the quarterly dividend from $0.50 to $2.50 per share, payable on November 8, 2024, to stockholders of record as of October 25, 2024. Additionally, the Board has approved a $1.0 billion share repurchase program for the Company's Common Stock.

CEO J. Frank Harrison, III, attributed these decisions to the company's improved profitability and strengthened balance sheet, emphasizing their commitment to building long-term value for stockholders while reinvesting in the business and employees.

Coca-Cola Consolidated (NASDAQ: COKE) reported strong Q2 2024 results, with net sales increasing 3.3% to $1.8 billion and gross profit rising 6.7% to $716.7 million. The company's gross margin improved by 130 basis points to 39.9%, while income from operations grew 10.9% to $259.1 million. Key highlights include:

- Sparkling and Still net sales increased 4.4% and 4.2% respectively
- Standard physical case volume decreased 1.2%
- Operating margin improved to 14.4% from 13.4% in Q2 2023
- Net income rose to $172.8 million, up from $122.3 million in Q2 2023

The company attributes its success to pricing actions, margin management, and operating efficiency. Coca-Cola Consolidated also made progress in building long-term value for stockholders through significant share repurchases.

Coca-Cola Consolidated, Inc. (NASDAQ: COKE), the largest Coca-Cola bottler in the United States, has announced it will release its second quarter and first half 2024 financial results on July 31, 2024, after market close. The report will cover the period ended June 28, 2024. As a key player in the beverage industry, Coca-Cola Consolidated serves approximately 60 million consumers across 14 states and the District of Columbia, offering over 300 brands and flavors of beverages from The Coca-Cola Company and other partners. The company, headquartered in Charlotte, N.C., has a rich history spanning 122 years and is committed to serving its communities while pursuing excellence and profitable growth.

Coca-Cola Consolidated, the largest Coca-Cola bottler in the United States, announced a third quarter dividend of $0.50 per share for 2024. This dividend applies to both Common Stock and Class B Common Stock. The dividend will be paid on August 9, 2024, to shareholders who are recorded as of the close of business on July 26, 2024.

Headquartered in Charlotte, NC, Coca-Cola Consolidated serves approximately 60 million consumers across 14 states and the District of Columbia. The company is listed on the Nasdaq Global Select Market under the symbol 'COKE'.

Coca-Cola Consolidated (NASDAQ: COKE) announced the final results of its modified Dutch auction tender offer, which ended on June 18, 2024. The company accepted 14,391.5 shares at $925 each, totaling approximately $13.3 million. This represents 0.2% of the company’s outstanding common stock as of June 18, 2024.

Following the tender offer, Coca-Cola Consolidated will buy 598,619 shares from Carolina Coca-Cola Bottling Investments (CCCBI) for about $553.7 million. This will ensure CCCBI holds 21.5% of the company’s shares post-transaction. The repurchase is expected to close on July 5, 2024.

The company may consider further share repurchases based on market conditions, its business and financial health, and other factors.

Coca-Cola Consolidated announced the preliminary results of its modified 'Dutch auction' tender offer, which expired on June 18, 2024. A total of 14,392.5 shares were tendered and not withdrawn at or below the purchase price of $925 per share. The company expects to accept these shares for a total cost of approximately $13.3 million. This represents about 0.2% of the outstanding shares as of June 18, 2024. Additionally, Coca-Cola Consolidated plans to repurchase 598,619 shares from Carolina Coca-Cola Bottling Investments, an indirect subsidiary of The Coca-Cola Company, for approximately $553.7 million. CEO J. Frank Harrison, III, expressed satisfaction with the results, interpreting the undersubscribed tender offer as a sign of shareholder confidence. The final numbers are subject to confirmation by the Depositary, with formal announcements and payments expected shortly after.