Income from operations for the first quarter of 2024 was $215 million, up $9 million, or 5%, versus the first quarter of 2023.Operating margin for the first quarter of 2024 was 13.5% as compared to 13.1% for the first quarter of 2023, an increase of 40 basis points.The Company intends to purchase up to $3.1 billion of its Common Stock through both a modified "Dutch auction" tender offer for up to $2.0 billion of its Common Stock and a separate share purchase agreement with The Coca‑Cola Company. Key Results ...

CHARLOTTE, N.C., April 17, 2024 (GLOBE NEWSWIRE) -- Coca-Cola Consolidated, Inc. (NASDAQ:COKE) will issue a news release after the market closes on May 6, 2024 to announce its operating results for the first quarter ended March 29, 2024. CONTACTS: Ashley Brown (Media)Scott Anthony (Investors)Director, External CommunicationsExecutive Vice President & Chief Financial Officer(803) 979-2849(704) 557-4633Ashley.Brown@cokeconsolidated.comScott.Anthony@cokeconsolidated.com About Coca-Cola Consolidated, Inc. Coca- ...

On March 19, Chipotle Mexican Grill (NYSE:CMG) announced the first stock split in its history. When it comes to high-priced stocks, they don’t get much higher than Chipotle. It trades a few dollars shy of $3,000, making it one of the most obvious stock-split candidates.  The restaurant chain opted for a 50-to-1 split of its stock. Shareholders will vote on the stock split at its annual meeting on June 6. If approved, shareholders will receive 49 new shares for every share held. “This is the first stock spli ...

CHARLOTTE, N.C., April 12, 2024 (GLOBE NEWSWIRE) -- Coca-Cola Consolidated, Inc. (NASDAQ:COKE) announced that the Board of Directors has declared a dividend for the second quarter of 2024 of $0.50 per share on shares of the Company's Common Stock and Class B Common Stock payable on May 10, 2024 to shareholders of record as of the close of business on April 26, 2024. CONTACTS: Ashley Brown (Media)Scott Anthony (Investors)Director, External CommunicationsExecutive Vice President & Chief Financial Officer(803) ...

Marvin Samuel Tolentino Pineda/iStock Editorial via Getty Images Introduction Sometimes the best investments are the ones that don’t need a lot of attention. I last discussed Coca-Cola Consolidated (NASDAQ:COKE) in February 2022 and rated it a ‘strong buy’. The share price has performed really well in the past two years as the stock is up by in excess of 90% compared to a total performance of the S&P 500 of less than 20%. Seeking AlphaAs I am looking to cash up my portfolio, I wanted to check if I need ...

Exhibit 99.1 ■ Gross profit in the fourth quarter of 2023 was $641 million, an increase of 7% versus the fourth quarter (a) of 2022. Gross margin in the fourth quarter of 2023 improved by 120 basis points to 39.3%. | --- | --- | --- | --- | --- | --- | --- | |------------------------------------|---------------|------------------|--------|----------|----------------------|--------| | Beverage Sales \n(in millions) | Fourth \n2023 | Quarter \n2022 | Change | 2023 | Fiscal Year \n2022 | Change | | Sparkling b ...

Introduction Coca‑Cola Consolidated, Inc., a Delaware corporation (together with its majority-owned subsidiaries, "Coca‑Cola Consolidated," the "Company," "we," "us" or "our"), distributes, markets and manufactures nonalcoholic beverages in territories spanning 14 states and the District of Columbia. The Company was incorporated in 1980 and, together with its predecessors, has been in the nonalcoholic beverage manufacturing and distribution business since 1902. We are the largest Coca‑Cola bottler in the Un ...

CHARLOTTE, N.C., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Coca-Cola Consolidated, Inc. (NASDAQ:COKE) will issue a news release after the market closes on February 21, 2024 to announce its operating results for the fourth quarter and fiscal year ended December 31, 2023. CONTACTS: Josh Gelinas (Media)Scott Anthony (Investors)Vice President, CommunicationsExecutive Vice President & Chief Financial Officer(704) 807-3703(704) 557-4633Josh.Gelinas@cokeconsolidated.com Scott.Anthony@cokeconsolidated.com   About Coca-Cola ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________________________________________ FORM 10-Q ______________________________________________________________________________________________ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transit ...

[PART I – FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The unaudited condensed consolidated financial statements for Q1 2023 show the company's financial position and performance [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2023 vs Q1 2022 Statement of Operations Highlights | (in thousands, except per share data) | First Quarter 2023 | First Quarter 2022 | | :--- | :--- | :--- | | **Net sales** | $1,571,642 | $1,404,358 | | **Gross profit** | $624,106 | $507,576 | | **Income from operations** | $206,054 | $130,985 | | **Net income** | $118,127 | $93,390 | | **Diluted net income per share (Common)** | $12.57 | $9.94 | | **Cash dividends per share (Common)** | $3.50 | $0.25 | [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance Sheet Highlights | (in thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total current assets** | $1,353,627 | $1,245,801 | | **Total assets** | $3,799,695 | $3,709,545 | | **Total current liabilities** | $812,575 | $905,156 | | **Total liabilities** | $2,565,442 | $2,594,157 | | **Total equity** | $1,234,253 | $1,115,388 | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 2023 vs Q1 2022 Cash Flow Summary | (in thousands) | First Quarter 2023 | First Quarter 2022 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $184,694 | $130,881 | | **Net cash used in investing activities** | $(52,542) | $(132,521) | | **Net cash used in financing activities** | $(40,019) | $(13,589) | | **Net increase (decrease) in cash** | $92,133 | $(15,229) | [Notes to Condensed Consolidated Financial Statements](index=14&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) - The Coca-Cola Company owned approximately **9% of the total voting power** of the Company's outstanding stock as of March 31, 2023[33](index=33&type=chunk) Disaggregation of Revenue from Contracts with Customers (Q1 2023) | (in thousands) | First Quarter 2023 | First Quarter 2022 | | :--- | :--- | :--- | | **Nonalcoholic Beverages - point in time** | $1,533,288 | $1,362,251 | | **Nonalcoholic Beverages - over time** | $12,124 | $10,970 | | **All Other - over time** | $26,230 | $31,137 | | **Total net sales** | $1,571,642 | $1,404,358 | Segment Operating Results (Q1 2023 vs Q1 2022) | (in thousands) | First Quarter 2023 | First Quarter 2022 | | :--- | :--- | :--- | | **Net sales - Nonalcoholic Beverages** | $1,545,412 | $1,373,221 | | **Income from operations - Nonalcoholic Beverages** | $209,779 | $134,558 | | **Net sales - All Other** | $92,376 | $96,163 | | **Income from operations - All Other** | $(3,725) | $(3,573) | - The fair value of the acquisition related contingent consideration liability increased in Q1 2023, with the liability standing at **$576.4 million** as of March 31, 2023[86](index=86&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=39&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes Q1 2023 performance, noting a 12% net sales increase driven by pricing actions [Executive Summary](index=40&type=section&id=Executive%20Summary) - Net sales **increased 12% to $1.57 billion** in Q1 2023, primarily driven by price increases across the product portfolio[121](index=121&type=chunk) - Standard physical case volume **declined 3.1%**, with Sparkling category volume up 0.2% and Still category volume down 7.9% on a comparable basis[122](index=122&type=chunk) - Gross profit **increased 23% to $624.1 million**, with gross margin improving 360 basis points to 39.7%[123](index=123&type=chunk)[125](index=125&type=chunk) - Cash flow from operations was strong at **$184.7 million**, with expected fiscal 2023 capital expenditures between $250 million and $300 million[127](index=127&type=chunk) [Results of Operations](index=41&type=section&id=Results%20of%20Operations) Net Sales by Product Category (Q1 2023 vs Q1 2022) | (in thousands) | 2023 | 2022 | % Change | | :--- | :--- | :--- | :--- | | **Sparkling beverages** | $920,562 | $775,584 | 18.7% | | **Still beverages** | $509,628 | $467,933 | 8.9% | | **Total bottle/can sales** | $1,430,190 | $1,243,517 | 15.0% | | **Total other sales** | $141,452 | $160,841 | (12.1)% | | **Total net sales** | $1,571,642 | $1,404,358 | 11.9% | - Cost of sales **increased by 5.7% to $947.5 million**, driven by approximately $60 million in higher input and transportation costs[139](index=139&type=chunk)[140](index=140&type=chunk) - SD&A expenses **rose 11.0% to $418.1 million**, primarily due to increased labor costs, higher fuel costs, and broad inflationary pressures[143](index=143&type=chunk) - Other expense, net was **$43.9 million**, a significant increase from $3.3 million of other income in the prior year due to non-cash fair value adjustments[146](index=146&type=chunk) [Liquidity and Capital Resources](index=49&type=section&id=Liquidity%20and%20Capital%20Resources) - As of March 31, 2023, the company had **$289.8 million in cash and cash equivalents** and believes it has sufficient capital for the next 12 months[162](index=162&type=chunk) Long-Term Debt Summary | (in thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Senior bonds and unamortized discount | $349,977 | $349,974 | | Revolving credit facility | — | — | | Senior notes | $250,000 | $250,000 | | Debt issuance costs | $(1,117) | $(1,157) | | **Total long-term debt** | **$598,860** | **$598,817** | - Cash provided by operating activities **increased to $184.7 million** in Q1 2023 from $130.9 million in Q1 2022, reflecting strong operating performance[169](index=169&type=chunk)[170](index=170&type=chunk) - Cash used in investing activities **decreased to $52.5 million** in Q1 2023 from $132.5 million in Q1 2022, due to lower capital expenditures[171](index=171&type=chunk)[174](index=174&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=55&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company details its market risk exposure, primarily from interest rates and commodity price fluctuations - A **10-basis point change** in the risk-free interest rate would alter its contingent consideration liability by approximately **$6 million**[184](index=184&type=chunk) - A **10% increase** in raw material prices would raise annual costs by approximately **$74 million**, assuming no change in volume[186](index=186&type=chunk) [Controls and Procedures](index=56&type=section&id=Item%204.%20Controls%20and%20Procedures) Management confirms the effectiveness of disclosure controls and procedures as of the quarter's end - The Chief Executive Officer and Chief Financial Officer concluded that the Company's **disclosure controls and procedures were effective**[191](index=191&type=chunk) - There were **no material changes** in the Company's internal control over financial reporting during the quarter ended March 31, 2023[192](index=192&type=chunk) [PART II – OTHER INFORMATION](index=57&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) [Legal Proceedings](index=57&type=section&id=Item%201.%20Legal%20Proceedings) Ongoing legal matters are not expected to have a material adverse effect on the company's financial condition - Management believes the ultimate disposition of various legal proceedings will **not have a material adverse effect** on the company's financial condition or results[195](index=195&type=chunk) [Risk Factors](index=57&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors were reported since the last annual filing - There have been **no material changes** in the Company's risk factors from those disclosed in the Annual Report on Form 10-K for 2022[196](index=196&type=chunk) [Exhibits](index=58&type=section&id=Item%206.%20Exhibits) The report lists all exhibits filed, including required officer certifications and XBRL data files - The report lists several exhibits, including **CEO and CFO certifications** pursuant to the Sarbanes-Oxley Act of 2002 and Inline XBRL documents[198](index=198&type=chunk)