Core Viewpoint - Coca-Cola Consolidated, Inc. has received stockholder approval for a 10-for-1 stock split, which is expected to enhance stock accessibility for a wider range of investors [1][2]. Group 1: Stock Split Details - The 10-for-1 stock split will result in stockholders receiving nine additional shares for each share of Common Stock or Class B Common Stock held, with trading on a split-adjusted basis expected to begin on or about May 27, 2025 [1]. - The stock split was contingent upon stockholder approval of an amendment to the Company's Restated Certificate of Incorporation, which was successfully approved at the Annual Meeting of Stockholders on May 13, 2025 [2]. Group 2: Company Overview - Coca-Cola Consolidated, Inc. is the largest Coca-Cola bottler in the United States, serving approximately 60 million consumers across 14 states and the District of Columbia with a portfolio of over 300 brands and flavors [5]. - The company has a long-standing commitment to its consumers, customers, and communities, emphasizing its purpose to honor God, serve others, pursue excellence, and grow profitably [5].

Grand Opening Showcases New Facilities and Economic Impact to AreaCHARLOTTE, N.C., May 15, 2025 (GLOBE NEWSWIRE) -- Coca-Cola Consolidated is pleased to announce a $90 million investment in a new 400,000-square-foot distribution and warehouse facility, and two 15,000 square-feet buildings to house equipment repair services and fleet maintenance in Columbus, Ohio. The new 60-acre campus is part of the Rickenbacker Industrial Center located on Rohr Road. Through innovative sustainability processes, new techno ...

With its share price trading well over $1,100 throughout 2025 so far, I doubt anyone was surprised when Coca- Cola Consolidated announced in March that its board of directors approved a 10-for-1 stock split. This split isn't a done deal quite yet, though. It must first be approved by shareholders at the annual meeting on May 13, 2025. Assuming all goes to plan, Coca-Cola Consolidated's shares will probably begin to trade an a split-adjusted basis on May 27, 2025. Coca-Cola Consolidated stock plunged after i ...

Core Viewpoint - Coca-Cola Consolidated's stock experienced a significant decline following disappointing Q1 earnings, with a 12% drop in share price despite a positive market backdrop [1][2]. Financial Performance - The company reported earnings per share of $11.87 on revenue of $1.58 billion for the quarter, with revenue down 0.7% year over year [3]. - The decline in revenue was attributed to two fewer sales days compared to the previous year, affecting overall sales performance [3]. - Gross profit margin decreased from 40.2% to 39.7%, and gross profit fell by 2% year over year [3]. - Operating income for the quarter was $190 million, reflecting a 12% year-over-year decline [3]. Volume and Pricing Dynamics - Unit volume fell by 6.6% year over year, necessitating pricing increases to maintain revenue levels [4]. - Adjusting for the two fewer sales days, the volume decline would have been 4.5% year over year [4]. - While pricing increases stabilized revenue, they were insufficient to prevent a decline in gross margin [5]. Future Outlook - Continued declines in unit volume could negatively impact future earnings, despite the potential for moderate pricing increases [5].

Exhibit 99.1 News Release Coca-Cola Consolidated Reports First Quarter 2025 Results Key Results | | First Quarter | | | | --- | --- | --- | --- | | (in millions) | 2025 | 2024 | Change | | (1) Volume | 76.7 | 82.1 | (6.6)% | | Net sales | $1,580.0 | $1,591.6 | (0.7)% | | Gross profit | $627.1 | $640.6 | (2.1)% | | Gross margin | 39.7 % | 40.2 % | | | Income from operations | $189.8 | $215.4 | (11.9)% | | Operating margin | 12.0 % | 13.5 % | | | Beverage Sales | First Quarter | | | | (in millions) | 2025 | 2 ...

Core Insights - Coca-Cola Consolidated, Inc. reported a decline in key financial metrics for the first quarter of 2025, including net sales and income from operations, attributed to fewer selling days and changes in distribution methods [3][5][10]. Financial Performance - Volume decreased by 6.6% in Q1 2025 compared to Q1 2024, with two fewer selling days accounting for approximately 2.1% of this decline [4][5]. - Net sales fell by 0.7% to $1.58 billion, negatively impacted by the two fewer selling days, which accounted for about $40 million or 2.5% of the change [5][7]. - Gross profit decreased by 2.1% to $627.1 million, with a gross margin of 39.7%, down 50 basis points from the previous year [7][8]. - Income from operations was $189.8 million, a decrease of 11.9% from $215.4 million in Q1 2024, with the two fewer selling days contributing approximately $10 million to this decline [10][11]. Beverage Sales - Sparkling beverage sales decreased by 1.9%, while still beverage sales saw a smaller decline of 0.5% compared to the previous year [6]. - The decline in Sparkling category sales was partially due to softness in the Coca-Cola Original Taste brand, although other core products showed solid growth [6][9]. - Excluding Dasani, net sales in the Still category increased by 1.8%, driven by growth in sports drinks and enhanced water products [6]. Operating Expenses - Selling, delivery, and administrative (SD&A) expenses increased by 2.9% to $437.3 million, with SD&A as a percentage of net sales rising to 27.7% [9][10]. - The increase in SD&A expenses was primarily due to higher labor costs and inflationary pressures [9]. Cash Flow and Investments - Cash flows from operations for Q1 2025 were $198.2 million, compared to $194.3 million in Q1 2024 [12]. - The company invested approximately $98 million in capital expenditures during the quarter, with expectations of around $300 million for the fiscal year 2025 [12].

CHARLOTTE, N.C., April 16, 2025 (GLOBE NEWSWIRE) -- Coca-Cola Consolidated, Inc. (NASDAQ: COKE) will issue a news release after the market closes on April 30, 2025 to announce its operating results for the first quarter ended March 28, 2025. CONTACTS: Brian K. Little (Media)Matt Blickley (Investors)Vice President, Corporate Communications OfficerExecutive Vice President, Chief Financial Officer and Chief Accounting Officer(980) 378-5537(704) 557-4910Brian.Little@cokeconsolidated.comMatt.Blickley@cokeconsoli ...

Core Insights - The article emphasizes the investment philosophy focused on small cap companies, highlighting the importance of identifying mispriced securities through understanding financial drivers and utilizing DCF model valuation [1] Investment Philosophy - The investment approach is not confined to traditional categories such as value, dividend, or growth investing, but rather considers all prospects of a stock to assess risk-to-reward [1]

Core Points - Coca-Cola Consolidated, Inc. announced a 10-for-1 stock split for its Common Stock and Class B Common Stock, pending stockholder approval [1][2] - The stockholder approval for the amendment to the Company's Restated Certificate of Incorporation will be sought at the Annual Meeting on May 13, 2025 [2] - If approved, stockholders of record as of May 16, 2025, will receive 9 additional shares for each share held, with distribution expected around May 23, 2025 [3] - The shares are anticipated to begin trading on a split-adjusted basis on or about May 27, 2025 [3] - The Chairman and CEO expressed that the stock split aims to enhance accessibility for a broader range of investors, reflecting the company's strong financial performance and increased investor interest [4] Company Overview - Coca-Cola Consolidated, Inc. is the largest Coca-Cola bottler in the United States, serving approximately 60 million consumers across 14 states and the District of Columbia [5] - The company has been operational for over 123 years, focusing on a diverse portfolio of beverages and services [5] - The company's purpose emphasizes honoring God, serving others, pursuing excellence, and achieving profitable growth [5]

Financial Performance - Net sales increased by $245.9 million, or 3.7%, to $6.90 billion in 2024 compared to $6.65 billion in 2023[191] - Gross profit rose by $154.5 million, or 5.9%, with gross margin increasing by 80 basis points to 39.9% in 2024[175] - Income from operations increased by $85.9 million to $920.4 million, while net income rose by $224.8 million to $633.1 million in 2024[177] - Sparkling beverage net sales increased by 5.5% to $4.11 billion, while still beverage net sales rose by 3.6% to $2.23 billion in 2024[192] - Net sales for the Nonalcoholic Beverages segment reached $6.84 billion in 2024, compared to $6.56 billion in 2023, reflecting a growth of approximately 4.3%[214] - Gross profit for the Company was $2.75 billion in 2024, an increase from $2.60 billion in 2023, representing a growth of approximately 6.0%[219] - Basic net income per share increased to $70.10 in 2024 from $43.56 in 2023, reflecting a significant growth in profitability[219] Cash Flow and Investments - Cash flows from operations for 2024 were $876.4 million, up from $810.7 million in 2023[178] - Capital expenditures for 2024 were $371.0 million, focusing on supply chain enhancements and future growth[178] - The company expects to continue significant investments in supply chain optimization during fiscal year 2025[184] - Cash provided by operating activities was $876.4 million, an increase of $65.7 million compared to 2023[239] - Cash used in investing activities during 2024 was $682.2 million, an increase of $386.9 million from 2023, primarily due to higher additions to property, plant, and equipment of $371.0 million[240] - Cash provided by financing activities was $306.4 million in 2024, a change of $384.1 million from cash used in financing activities of $77.7 million in 2023, driven by bond proceeds of $1.20 billion[244] Expenses and Costs - Selling, delivery, and administrative expenses increased by $68.6 million, or 3.9%, representing 26.6% of net sales in 2024[176] - Cost of sales increased by $91.4 million, or 2.3%, to $4.15 billion in 2024 compared to $4.06 billion in 2023, primarily due to higher input costs[200] - Selling, delivery, and administrative (SD&A) expenses rose by $68.6 million, or 3.9%, to $1.83 billion in 2024, with labor costs accounting for approximately $48 million of the increase[203] - The net impact of commodity derivative instruments on the consolidated statements of operations was a decrease in cost of sales of $590, and an increase in SD&A expenses of $2,647 in 2024[256] - Inflation has increased both cost of goods sold and selling, general & administrative (SD&A) expenses for the Company[299] Debt and Financing - Total debt as of December 31, 2024, was $1.79 billion, up from $599.2 million on December 31, 2023[228] - The Company completed the issuance of $700 million in 2029 Senior Bonds and $500 million in 2034 Senior Bonds on May 29, 2024[231] - The Company has a maximum borrowing capacity of $500 million under its Revolving Credit Facility, maturing on June 10, 2029[232] - As of December 31, 2024, the company had outstanding debt of $1.80 billion, with approximately $350 million due in fiscal year 2025[247] Tax and Regulatory - The effective income tax rate decreased to 26.1% in 2024 from 26.7% in 2023, while income tax expense increased by $74.4 million, or 49.9%, to $223.5 million[209] - The Company does not recognize a tax benefit unless it is more likely than not that the benefit will be sustained on audit[276] Assets and Liabilities - Total assets increased by $1.02 billion to $5.31 billion as of December 31, 2024, compared to $4.29 billion on December 31, 2023[220] - Net working capital rose by $620.3 million to $1.23 billion on December 31, 2024[220] - Cash and cash equivalents increased by $500.6 million, primarily due to bond proceeds of $1.20 billion and strong operating performance[222] - The ending balance of the Level 3 liability related to acquisition contingent consideration was $654.2 million as of 2024, down from $669.3 million in 2023[237] Shareholder Returns - The Board of Directors approved an increase in the quarterly cash dividend from $0.50 to $2.50 per share on August 20, 2024[235] - The Company repurchased 14,391.5 shares of Common Stock for an aggregate purchase price of $13.3 million, representing 0.2% of the shares outstanding as of June 18, 2024[225] Market and Economic Conditions - Walmart and Kroger accounted for approximately 29% of total net sales in 2024, maintaining similar percentages from 2023[196] - A 10% increase in key commodity prices would increase costs by approximately $66 million over the next 12 months[294] - The annual rate of inflation in the U.S. was 2.9% in 2024, 3.4% in 2023, and 6.5% in 2022, affecting commodity prices relevant to the Company's business[298] - The Company can offset cost increases by raising selling prices, but consumer buying power may limit this ability[299] - If consumers reduce their purchase volume due to higher prices, selling price increases may not fully cover the Company's cost increases[299] Pension and Benefits - Pension costs for the Bargaining Plan were $3.7 million in both 2024 and 2023[281] - The discount rate for the Bargaining Plan was 5.89% in 2024 and 5.16% in 2023, significantly impacting projected benefit obligations[280] - A 0.25% increase in the discount rate assumption would decrease the projected benefit obligation by $1,842,000, while a decrease would increase it by $1,965,000[282] - The discount rate for the postretirement benefit obligation was 5.68% in 2024 and 5.02% in 2023[285] - The actual return on pension plan assets for the Bargaining Plan was a gain of 3.7% in 2024 and a gain of 13.5% in 2023[280] Impairment and Valuation - The Company did not identify any impairment triggers related to property, plant, and equipment and other intangibles during 2024 and 2023[267] - The Company performed its annual impairment test of goodwill and determined there was no impairment for both 2024 and 2023[270] - The fair value of the acquisition related contingent consideration liability is influenced by the Company's WACC and estimated future payments, with a 10-basis point change in the risk-free interest rate resulting in a $6 million change in liability[273]