Coca-Cola Bottling Co. Consolidated COKE, one of the largest independent bottlers of The Coca-Cola Company’s KO products, reported comparable basic net income per share of 20 cents in the fourth quarter of fiscal 2017. This compares favorably with the year-ago loss per share of 26 cents.
Coca-Cola Bottling reported net sales of $1.13 billion, up 33.8% year over year. The upside can be attributed to acquisitions and higher comparable net sales.
Comparable net sales improved 6.7% driven by a 1.5% rise in comparable equivalent unit case volumes. Sparkling product comparable volumes were down 0.7%, while that of still products increased 8.3%.
Comparable income from operations of $120.8 million increased $8.3 million on a year-over-year basis.
Financials
Cash and cash equivalents were $16.9 million as of Dec 31, 2017, compared with $21.9 million as of Jan 1, 2017.
Cash flow from operating activities was $307.8 million in fiscal 2017, reflecting an increase of $ 145.8 million from the prior-year period.
Property, plant and equipment acquired in fiscal 2017 were worth $1.03 billion, excluding $812.9 million in property, plant and equipment acquired as of Jan 1, 2017.
Peer Releases
The Coca-Cola Company’s comparable earnings in the fourth quarter of 2017 were 39 cents per share, surpassing the Zacks Consensus Estimate of 38 cents. The same improved from the year-ago quarter’s level of 37 cents, courtesy of ongoing productivity efforts.
PepsiCo PEP reported fourth-quarter 2017 earnings per share of $1.31, beating the Zacks Consensus Estimate of $1.30 and increasing 9% year over year.
Dr Pepper Snapple Group’s DPS fourth-quarter 2017 earnings were in line with the Zacks Consensus Estimate, while revenues lagged the same.
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