We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Coca-Cola Bottling Co. Consolidated (COKE - Free Report) , one of the largest independent bottlers of The Coca-Cola Company’s (KO - Free Report) products, reported adjusted earnings of 72 cents per share in the fourth quarter of fiscal 2016, up 12.5% year over year.
Coca-Cola Bottling reported net sales of $841.6 million, up 35.8% year over year primarily on acquisitions and higher comparable net sales.
Comparable net sales increased 6.3% driven by a 5.6% rise in comparable equivalent unit case volumes. Both sparkling and still products contributed to the upside in volumes.
Comparable income from operations increased 20.7% to $24.9 million on a year-over-year basis, driven by sales growth and the leveraging of selling, delivery and administrative expenses.
The company expects to continue to grow both organically and through the acquisition of additional manufacturing and distribution territory. In Sep 2016, Coca-Cola Bottling entered into a definitive agreement with an affiliate of The Coca-Cola Company to include distribution territories in Ohio, Indiana, Illinois, Kentucky and West Virginia as well as to purchase manufacturing facilities in Ohio and Indiana.
Earlier, Coca-Cola Bottling benefitted from the expansion of Monster Beverage Corporation’s (MNST - Free Report) product distribution throughout the company’s territory in Aug 2014.
Also, during second-quarter 2016, the company expanded its territories to include Maryland and Delaware and took over two manufacturing facilities in Maryland, under its agreement with The Coca-Cola Company. Notably, most of The Coca-Cola Company’s beverages are manufactured, sold and distributed by independent bottling partners like Coca-Cola Bottling Co, Coca-Cola European Partners Plc. and Coca-Cola FEMSA S.A.B de C.V.
The company reported adjusted earnings of $5.79 per share in fiscal 2016, up 12.4% year over year. Consolidated net sales in fiscal 2016 increased 36.9% to $3.16 billion from the fiscal 2015 level.
Financials
Cash flow from operations was $162.0 million for fiscal 2016 compared with $108.3 million for the prior-year period. The increase came on the back of growth in comparable income from operations and cash generated from acquired territories.
In fiscal 2016, cash payments for acquired territories and related assets amounted to $272.6 million. Meanwhile, capital expenditures increased 5.3% to $172.6 million led by expenses related to acquired territories and related assets.
8 Stocks with Huge Profit Potential
Just released: Driverless Cars: Your Roadmap to Mega-Profits Today. In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Coca-Cola Bottling (COKE) Q4 Earnings, Revenues Rise Y/Y
Coca-Cola Bottling Co. Consolidated (COKE - Free Report) , one of the largest independent bottlers of The Coca-Cola Company’s (KO - Free Report) products, reported adjusted earnings of 72 cents per share in the fourth quarter of fiscal 2016, up 12.5% year over year.
Coca-Cola Bottling reported net sales of $841.6 million, up 35.8% year over year primarily on acquisitions and higher comparable net sales.
Comparable net sales increased 6.3% driven by a 5.6% rise in comparable equivalent unit case volumes. Both sparkling and still products contributed to the upside in volumes.
Comparable income from operations increased 20.7% to $24.9 million on a year-over-year basis, driven by sales growth and the leveraging of selling, delivery and administrative expenses.
The company expects to continue to grow both organically and through the acquisition of additional manufacturing and distribution territory. In Sep 2016, Coca-Cola Bottling entered into a definitive agreement with an affiliate of The Coca-Cola Company to include distribution territories in Ohio, Indiana, Illinois, Kentucky and West Virginia as well as to purchase manufacturing facilities in Ohio and Indiana.
Earlier, Coca-Cola Bottling benefitted from the expansion of Monster Beverage Corporation’s (MNST - Free Report) product distribution throughout the company’s territory in Aug 2014.
Also, during second-quarter 2016, the company expanded its territories to include Maryland and Delaware and took over two manufacturing facilities in Maryland, under its agreement with The Coca-Cola Company. Notably, most of The Coca-Cola Company’s beverages are manufactured, sold and distributed by independent bottling partners like Coca-Cola Bottling Co, Coca-Cola European Partners Plc. and Coca-Cola FEMSA S.A.B de C.V.
Coca-Cola Bottling Co. Consolidated Price
Coca-Cola Bottling Co. Consolidated Price | Coca-Cola Bottling Co. Consolidated Quote
2016 Results
The company reported adjusted earnings of $5.79 per share in fiscal 2016, up 12.4% year over year. Consolidated net sales in fiscal 2016 increased 36.9% to $3.16 billion from the fiscal 2015 level.
Financials
Cash flow from operations was $162.0 million for fiscal 2016 compared with $108.3 million for the prior-year period. The increase came on the back of growth in comparable income from operations and cash generated from acquired territories.
In fiscal 2016, cash payments for acquired territories and related assets amounted to $272.6 million. Meanwhile, capital expenditures increased 5.3% to $172.6 million led by expenses related to acquired territories and related assets.
8 Stocks with Huge Profit Potential
Just released: Driverless Cars: Your Roadmap to Mega-Profits Today. In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>