Coca-Cola Bottling Co. Consolidated , the largest independent bottler of The Coca-Cola Company (KO - Free Report) in the U.S., is scheduled to report second-quarter 2017 financial numbers on Aug 8, after the closing bell.
Shares of Coke Consolidated have been rising in recent months, returning 33.5% year to date, faring a lot better than the 13.9% growth of its industry.
The following chart below depicts the share price performance so far this year:
The upside is primarily attributable to the company’s continuous focus on expanding its distribution territory, while growing its organic businesses.
In fact, in the last reported quarter, Coca-Cola Bottling’s net sales of $865.7 million increased 38.4% year over year primarily on acquisitions and higher comparable net sales. Comparable net sales grew 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%. This growth trend is also expected to continue in the to-be-reported quarter.
The company also expects to continue growing both organically and through acquisition of additional manufacturing and distribution territory.
The company’s first-quarter adjusted earnings remained flat at 45 cents per share year over year. Notably, the company’s comparable income from operations were adversely impacted by an increase in selling, delivery and administrative expenses required to improve the corporate support service functions of the company both during its current stage of growth and in preparation for the conclusion of all territory acquisition and exchange transactions.
Higher expenses might also negatively impact the company’s bottom line as well.
The Coca-Cola Company reported better-than-expected second-quarter 2017 results. Second-quarter 2017 adjusted earnings of the company were 59 cents per share, surpassing the Zacks Consensus Estimate of 57 cents by 3.5%.
PepsiCo, Inc. (PEP - Free Report) reported better-than-expected results in second-quarter 2017 (ending Jun 17), with both earnings and revenues beating the Zacks Consensus Estimate. PepsiCo’s second-quarter core earnings per share of $1.50 beat the Zacks Consensus Estimate of $1.40 by 7.1%.
Dr Pepper Snapple Group Inc.’s (DPS - Free Report) adjusted second-quarter 2017 earnings per share of $1.25 missed the Zacks Consensus Estimate of $1.28 by 2.3%.
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