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Coca-Cola Consolidated Reports Fourth Quarter and Fiscal Year 2024 Results
COKECoca-Cola Consolidated(COKE) GlobeNewswire·2025-02-20 21:10

Core Insights - Coca-Cola Consolidated, Inc. reported solid financial performance for the fourth quarter and fiscal year 2024, with net sales increasing by 7.1% to 1.7billioninQ4and3.71.7 billion in Q4 and 3.7% to 6.9 billion for the fiscal year [4][7][12] - The company achieved a gross profit of 697.9millioninQ4,anincreaseof8.8697.9 million in Q4, an increase of 8.8% year-over-year, and a gross margin improvement to 40.0% [9][11] - Income from operations rose by 22.6% to 218.7 million in Q4 and by 10.3% to 920.4millionforthefiscalyear,withoperatingmarginsimprovingto12.5920.4 million for the fiscal year, with operating margins improving to 12.5% [11][14] Financial Performance - Net sales for Q4 2024 were 1,746.5 million, up from 1,631.0millioninQ42023,whilefiscalyearnetsalesreached1,631.0 million in Q4 2023, while fiscal year net sales reached 6,899.7 million compared to 6,653.9millioninthepreviousyear[2][4]−GrossprofitforQ42024was6,653.9 million in the previous year [2][4] - Gross profit for Q4 2024 was 697.9 million, compared to 641.5millioninQ42023,withagrossmarginof40.0641.5 million in Q4 2023, with a gross margin of 40.0% [9][11] - The company reported an income from operations of 218.7 million in Q4 2024, up from 178.5millioninQ42023,and178.5 million in Q4 2023, and 920.4 million for the fiscal year, an increase from 834.5million[11][12]BeverageSales−SparklingbeveragesalesinQ42024increasedby7.7834.5 million [11][12] Beverage Sales - Sparkling beverage sales in Q4 2024 increased by 7.7% to 1,083.5 million, while still beverage sales rose by 8.7% to 531.3million[4][5]−Forthefiscalyear,sparklingbeveragesalestotaled531.3 million [4][5] - For the fiscal year, sparkling beverage sales totaled 4,106.1 million, a 5.5% increase, and still beverage sales reached 2,227.2million,up3.62,227.2 million, up 3.6% [4][5] Operational Highlights - The company invested over 370 million in capital expenditures during 2024 and repurchased approximately 626millionofitscommonstock[4][10]−Cashflowsfromoperationsforfiscalyear2024were626 million of its common stock [4][10] - Cash flows from operations for fiscal year 2024 were 876.4 million, compared to 810.7millioninfiscalyear2023[14][23]−ThecompanyachievedanEBITDAofover810.7 million in fiscal year 2023 [14][23] - The company achieved an EBITDA of over 1.1 billion with an EBITDA margin of 16.2%, the highest level in decades [10][28] Market Dynamics - The increase in net sales was positively impacted by two additional selling days in Q4 2024, contributing approximately $40 million to net sales growth [4][11] - Consumer demand for multi-serve, value-oriented packages remained strong, particularly among large retail customers [4][5]