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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 45 cents per share in the first quarter of fiscal 2017 (ending Apr 2, 2017). The reported number was flat year over year.
Coca-Cola Bottling reported net sales of $865.7 million, up 38.4% year over year primarily on acquisitions and higher comparable net sales.
Comparable net sales increased 1.8% driven by a 2.6% rise in comparable equivalent unit case volumes. Sparkling product volume grew 1.3% and that of still products increased 6%.
Comparable income from operations declined 10.2% to $16.5 million on a year-over-year basis, due to the shift in the Easter holiday and an increase in selling, delivery and administrative expenses.
The company expects to continue growing both organically and through the acquisition of additional manufacturing and distribution territory.
Cash and cash equivalents were $31.9 million as of Apr 2, 2017 compared with $21.9 million at the end of 2016.
Cash flow from operations was $116.5 million in the quarter compared with cash used in operating activities of $15.2 million in the year ago period.
Peer Releases
The Coca-Cola Company’s first-quarter 2017 adjusted earnings were 43 cents per share, missing the Zacks Consensus Estimate of 43 cents by 2.3%. Net revenue of $9.12 billion surpassed the Zacks Consensus Estimate of $8.97 billion.
PepsiCo, Inc. (PEP - Free Report) reported better-than-expected results in first-quarter 2017 (ending Mar 25), with both earnings and revenues beating the Zacks Consensus Estimate. PepsiCo’s first-quarter core earnings per share (EPS) of 94 cents beat the Zacks Consensus Estimate of 91 cents by 3.3%. Total sales of $12.05 billion surpassed the Zacks Consensus Estimate of $11.97 billion by 0.7%.
Monster Beverage Corporation (MNST - Free Report) reported first-quarter 2017 results, wherein both earnings and revenues surpassed expectations. Monster Beverage’s first-quarter adjusted earnings of 33 cents per share beat the Zacks Consensus Estimate of 32 cents by a penny. Net sales of $742.1 million surpassed the Zacks Consensus Estimate of $741.4 million by 0.1%.
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Coca-Cola Bottling (COKE) Q1 Earnings Flat, Revenues Grow
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 45 cents per share in the first quarter of fiscal 2017 (ending Apr 2, 2017). The reported number was flat year over year.
Coca-Cola Bottling reported net sales of $865.7 million, up 38.4% year over year primarily on acquisitions and higher comparable net sales.
Comparable net sales increased 1.8% driven by a 2.6% rise in comparable equivalent unit case volumes. Sparkling product volume grew 1.3% and that of still products increased 6%.
Comparable income from operations declined 10.2% to $16.5 million on a year-over-year basis, due to the shift in the Easter holiday and an increase in selling, delivery and administrative expenses.
The company expects to continue growing both organically and through the acquisition of additional manufacturing and distribution territory.
Coca-Cola Bottling Co. Consolidated Price
Coca-Cola Bottling Co. Consolidated Price | Coca-Cola Bottling Co. Consolidated Quote
Financials
Cash and cash equivalents were $31.9 million as of Apr 2, 2017 compared with $21.9 million at the end of 2016.
Cash flow from operations was $116.5 million in the quarter compared with cash used in operating activities of $15.2 million in the year ago period.
Peer Releases
The Coca-Cola Company’s first-quarter 2017 adjusted earnings were 43 cents per share, missing the Zacks Consensus Estimate of 43 cents by 2.3%. Net revenue of $9.12 billion surpassed the Zacks Consensus Estimate of $8.97 billion.
PepsiCo, Inc. (PEP - Free Report) reported better-than-expected results in first-quarter 2017 (ending Mar 25), with both earnings and revenues beating the Zacks Consensus Estimate. PepsiCo’s first-quarter core earnings per share (EPS) of 94 cents beat the Zacks Consensus Estimate of 91 cents by 3.3%. Total sales of $12.05 billion surpassed the Zacks Consensus Estimate of $11.97 billion by 0.7%.
Monster Beverage Corporation (MNST - Free Report) reported first-quarter 2017 results, wherein both earnings and revenues surpassed expectations. Monster Beverage’s first-quarter adjusted earnings of 33 cents per share beat the Zacks Consensus Estimate of 32 cents by a penny. Net sales of $742.1 million surpassed the Zacks Consensus Estimate of $741.4 million by 0.1%.
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Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more.
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