Coca-Cola Consolidated Reports Fourth Quarter and Fiscal Year 2024 Results

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 $1.7 billion in Q4 and 3.7% to $6.9 billion for the fiscal year [4][7][12] - The company achieved a gross profit of $697.9 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 $920.4 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 $1,631.0 million in Q4 2023, while fiscal year net sales reached $6,899.7 million compared to $6,653.9 million in the previous year [2][4] - Gross profit for Q4 2024 was $697.9 million, compared to $641.5 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 $178.5 million in Q4 2023, and $920.4 million for the fiscal year, an increase from $834.5 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 $531.3 million [4][5] - For the fiscal year, sparkling beverage sales totaled $4,106.1 million, a 5.5% increase, and still beverage sales reached $2,227.2 million, up 3.6% [4][5] Operational Highlights - The company invested over $370 million in capital expenditures during 2024 and repurchased approximately $626 million of its common stock [4][10] - Cash flows from operations for fiscal year 2024 were $876.4 million, compared to $810.7 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]