Coca-Cola Bottling Co. Consolidated (COKE - Free Report) , one of the largest independent bottlers of the products of The Coca-Cola Company (KO - Free Report) , reported adjusted earnings of $2.03 per share in the second quarter of 2016, up 6.3% year over year.
Coca-Cola Bottling reported net sales of $840.4 million, up 36.7% year over year.
Organic growth in the legacy territories as well as territory expansion through the acquisition of several new distribution territories from Coca-Cola led to the solid performance.
Comparable net sales increased 4.5% driven by a 4.5% increase in volume, particularly in sparkling and still portfolios. Coca-Cola Bottling’s top line also benefitted from the expansion of Monster Beverage Corporation’s (MNST - Free Report) product distribution throughout the company’s territory.
The company plans to further expand its distribution territory and acquire additional production centers from Coca-Cola as part of the latter’s global re-franchising initiatives in 2016.
During second-quarter 2016, the company expanded its territories to include Maryland and Delaware and acquired two additional manufacturing facilities in Maryland, under its agreement with Coca-Cola. 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.
Comparable operating income from operations increased 12.4% to $43.0 million driven by strong revenues and the leveraging of selling, delivery and administrative expenses.
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Coca-Cola Bottling Co. Consolidated (COKE - Free Report) , one of the largest independent bottlers of the products of The Coca-Cola Company (KO - Free Report) , reported adjusted earnings of $2.03 per share in the second quarter of 2016, up 6.3% year over year.
Coca-Cola Bottling reported net sales of $840.4 million, up 36.7% year over year.
Organic growth in the legacy territories as well as territory expansion through the acquisition of several new distribution territories from Coca-Cola led to the solid performance.
Comparable net sales increased 4.5% driven by a 4.5% increase in volume, particularly in sparkling and still portfolios. Coca-Cola Bottling’s top line also benefitted from the expansion of Monster Beverage Corporation’s (MNST - Free Report) product distribution throughout the company’s territory.
The company plans to further expand its distribution territory and acquire additional production centers from Coca-Cola as part of the latter’s global re-franchising initiatives in 2016.
During second-quarter 2016, the company expanded its territories to include Maryland and Delaware and acquired two additional manufacturing facilities in Maryland, under its agreement with Coca-Cola. 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.
Comparable operating income from operations increased 12.4% to $43.0 million driven by strong revenues and the leveraging of selling, delivery and administrative expenses.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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