Coca-Cola Consolidated(US:COKE)2025-10-29 20:14Financial Performance - Third quarter 2025 net sales increased by 6.9% to $1,888.3 million compared to the same period in 2024[5] - Gross profit for the third quarter of 2025 was $748.5 million, reflecting a 7.2% increase year-over-year[9] - Income from operations in the third quarter of 2025 rose to $246.6 million, an increase of 8.6% from the previous year[11] - Earnings per share for the third quarter of 2025 increased by 24% to $1.64, with adjusted earnings per share rising by 10% to $2.06[5] - Net income for the third quarter of 2025 was $142.3 million, a 23.1% increase compared to the same quarter in 2024[12] - Net sales for Q3 2025 reached $1,888,317, a 7% increase from $1,765,652 in Q3 2024[20] - Gross profit for Q3 2025 was $748,516, up 7.2% from $698,036 in Q3 2024[20] - Net income for Q3 2025 was $142,334, representing a 23% increase compared to $115,624 in Q3 2024[20] - Basic net income per share for Q3 2025 was $1.64, an increase from $1.32 in Q3 2024[20] Volume and Category Performance - Volume for the third quarter of 2025 increased by 3.3%, while the first nine months saw a decline of 1.2% due to two fewer selling days[7] - Sparkling category volume grew by 1.4% in the third quarter, driven by zero-sugar and flavor offerings[7] - Still category volume increased by 8.9% in the third quarter, with brands like Monster and Powerade contributing to growth[7] - Comparable volume for the first nine months of 2025 was 260.3 million, a decrease of 0.5% from 261.7 million in 2024[26] Expenses and Costs - Selling, delivery, and administrative expenses in the third quarter of 2025 increased by 6.6% to $502.1 million, primarily due to labor costs[10] - Capital expenditures for the first nine months of 2025 were approximately $210 million, with expectations of around $300 million for the full fiscal year[13] Assets and Cash Flow - Total current assets increased to $2,847,740 as of September 26, 2025, compared to $2,547,302 at the end of 2024[22] - Total assets grew to $5,668,510 as of September 26, 2025, up from $5,313,139 at the end of 2024[22] - Net cash provided by operating activities for the first nine months of 2025 was $722,913, slightly up from $707,893 in the same period of 2024[24] - Cash and cash equivalents at the end of the period increased to $1,532,473 from $1,236,006 in the previous year[24] Non-GAAP Financial Measures - The company emphasizes the importance of non-GAAP financial measures for assessing ongoing performance and making financial decisions[27] - The company’s management believes that non-GAAP measures provide additional meaningful financial information beyond GAAP results[27] - The company reported adjusted results (non-GAAP) of $2,117,217 in gross profit for the first nine months of 2025, compared to $2,053,960 in 2024, indicating a 3.1% increase[27] - Adjusted net income for the first nine months of 2025 was $510,637, up from $521,910 in the first nine months of 2024, reflecting a decrease of 2.2%[27] - Basic net income per share for the first nine months of 2025 was $4.99, compared to $4.97 in the same period of 2024, showing a slight increase of 0.4%[27] - Total income from operations for the first nine months of 2025 was $708,538, a marginal increase of 0.9% from $701,601 in 2024[27] - Fair value adjustments for commodity derivative instruments resulted in a loss of $(1,669) in the first nine months of 2025, compared to a loss of $(925) in the same period of 2024[27] - The total reconciling items for the first nine months of 2025 amounted to $102,799, compared to $89,952 in the first nine months of 2024, indicating an increase of 14.3%[27] - The fair value adjustment of acquisition-related contingent consideration was $104,468 for the first nine months of 2025, compared to $90,877 in 2024[27] Stock and Shareholder Information - The company executed a 10-for-1 forward stock split during Q2 2025, impacting share amounts retroactively[20]