Coca-Cola Bottling Co. Consolidated , one of the largest independent bottlers of The Coca-Cola Company’s (KO - Free Report) products, reported adjusted earnings of $2.36 per share in the second quarter of fiscal 2017. Earnings increased 11.8% year over year. Notably, shares of the company have lost 2.7% in afterhours trading on Aug 8.
Coca-Cola Bottling reported net sales of $1.17 billion, up 39.1% year over year primarily on acquisitions and higher comparable net sales.
Comparable net sales increased 2.8% driven by a 1.3% rise in comparable equivalent unit case volumes. Sparkling product comparable volumes grew 0.8% and that of still products increased 2.6%.
Comparable income from operations increased 7.1% to $47.5 million on a year-over-year basis on increased comparable net sales.
Cash and cash equivalents were $43.5 million as of Jul 2, 2017, compared with $21.9 million at the end of 2016.
Cash flow from operating activities was $179.0 million in the first six months of fiscal 2017.
The Coca-Cola Company reported better-than-expected results in 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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