Coca-Cola Consolidated Reports Third Quarter and First Nine Months 2025 Results

Core Insights - Coca-Cola Consolidated, Inc. reported strong financial performance for the third quarter and first nine months of fiscal 2025, with notable increases in net sales and gross profit [3][4][5]. Financial Performance - In the third quarter of 2025, net sales increased by 6.9% to $1.888 billion, while for the first nine months, net sales rose by 3.3% to $5.324 billion [5][20]. - Gross profit for the third quarter was $748.5 million, reflecting a 7.2% increase compared to the same period in 2024, with a gross margin of 39.6% [5][7]. - Income from operations for the third quarter was $246.6 million, an increase of 8.6% year-over-year, resulting in an operating margin of 13.1% [9][20]. Volume and Sales Breakdown - Total volume in the third quarter increased by 3.3%, while the first nine months saw a decline of 1.2% due to two fewer selling days compared to the previous year [4][26]. - Sparkling beverage sales in the third quarter rose by 4.7%, while still beverage sales increased by 9.9% [6][20]. Earnings and Shareholder Returns - Earnings per share for the third quarter increased by 24% to $1.64, with adjusted earnings per share rising by 10% to $2.06 [5][10]. - The company returned over $211 million to shareholders through share repurchases and dividends during 2025 [4][12]. Cost Management - Selling, delivery, and administrative expenses increased by 6.6% in the third quarter, primarily due to labor costs, but as a percentage of net sales, these expenses decreased to 26.6% [8][20]. - The company effectively managed commodity cost increases through annual price adjustments implemented earlier in the year [7][8]. Cash Flow and Investments - Cash flows from operations for the first nine months of 2025 were $722.9 million, compared to $707.9 million in the same period of 2024 [12][23]. - The company invested approximately $210 million in capital expenditures to optimize its supply chain and support future growth [12][23]. Balance Sheet Highlights - As of September 26, 2025, total assets were $5.669 billion, with stockholders' equity amounting to $1.636 billion [22]. - Current assets increased to $2.848 billion, while total liabilities rose to $4.033 billion [22].