
Financial Performance - Fourth quarter 2024 net sales increased by 7.1% to $1,746.5 million compared to the same period in 2023, while fiscal year 2024 net sales rose by 3.7% to $6,899.7 million[5][7] - Gross profit for the fourth quarter of 2024 was $697.9 million, an increase of 8.8% year-over-year, with a gross margin improvement of 70 basis points to 40.0%[9][11] - Income from operations in the fourth quarter of 2024 was $218.7 million, a 22.6% increase from $178.5 million in the fourth quarter of 2023, with fiscal year 2024 income from operations reaching $920.4 million, up 10.3%[11][12] - Net income for the fourth quarter of 2024 was $178.9 million, a significant increase of $103.1 million compared to $75.8 million in the fourth quarter of 2023[12] - Net income for fiscal year 2024 was $633,125, representing a 55% increase compared to $408,375 in fiscal year 2023[23] - Basic net income per share for Q4 2024 was $20.48, compared to $8.09 in Q4 2023, reflecting a 153% increase[19] - Adjusted net income per share for Fiscal Year 2024 is $75.13, up from $65.48 in Fiscal Year 2023, reflecting a 14% increase[25] Sales Performance - Sparkling beverage sales in the fourth quarter of 2024 increased by 7.7% to $1,083.5 million, while still beverage sales rose by 8.7% to $531.3 million compared to the fourth quarter of 2023[2][7] - Comparable volume for the fourth quarter of 2024 was up 1.3%, with a 0.8% increase in Sparkling category volume and a 6.4% decline in Still category volume[8][9] - Comparable volume for Q4 2024 was 87.8 million, a decrease of 0.9% from 88.5 million in Q4 2023[24] Cash Flow and Investments - Cash flows from operations for fiscal year 2024 were $876.4 million, reflecting strong operating performance, with capital expenditures of $371 million during the year[12] - The company plans to invest approximately $300 million in capital expenditures for fiscal year 2025[12] - The company reported a net cash provided by operating activities of $876,357 for fiscal year 2024, compared to $810,690 in fiscal year 2023[23] Assets and Liabilities - Total assets increased to $5,313,139 in December 2024, up from $4,288,942 in December 2023[21] - Cash and cash equivalents rose to $1,135,824 in December 2024, a significant increase from $635,269 in December 2023[21] - Total liabilities increased to $3,895,528 in December 2024, up from $2,853,344 in December 2023[21] Operational Efficiency - Operating margin for fiscal year 2024 improved to 13.3%, an increase of 80 basis points from 12.5% in fiscal year 2023[11] - Gross profit for Fiscal Year 2024 is $2,753,179,000, a 4% increase compared to $2,598,711,000 in Fiscal Year 2023[25] - Total income from operations for Fiscal Year 2024 is $921,625,000, which is a 10.3% increase from $834,451,000 in Fiscal Year 2023[25] - The company experienced a 6% increase in selling, general and administrative expenses, totaling $1,832,829,000 in Fiscal Year 2024[25] Future Outlook - Future outlook includes continued focus on market expansion and new product development, aiming for sustained growth in revenue and profitability[25] - The company emphasizes the importance of non-GAAP financial measures for assessing ongoing performance and making strategic decisions[25] Other Financial Metrics - The company repurchased approximately $626 million of its common stock and increased its annualized regular dividend to $10 per share during 2024[7] - The company issued $1,200,000 in bonds during fiscal year 2024[23] - Adjusted EBITDA for Fiscal Year 2024 is $1,115,416,000, with an EBITDA margin of 16.2%[25] - Income tax expense for Fiscal Year 2024 is $223,529,000, compared to $119,834,000 in Fiscal Year 2023, indicating a significant increase[25] - The company reported a fair value adjustment for commodity derivative instruments of $1,275,000 in Fiscal Year 2024, compared to a loss of $1,220,000 in Fiscal Year 2023[25]