COCA-COLA CONSOLIDATED Announces Second Quarter Earnings Results for FY2023
August 11, 2023
🌥️Earnings Overview
On June 30, 2023, COCA-COLA CONSOLIDATED ($NASDAQ:COKE) released their financial performance for the second quarter of FY2023, showing a total revenue of USD 1738.8 million, an increase of 9.0% compared to the same quarter in the previous year. Net income also rose 22.9% year over year, to USD 122.3 million.
Price History
On Wednesday, COCA-COLA CONSOLIDATED announced its second quarter earnings results for FY2023. The stock opened at $630.1 and closed at $624.0, down by 1.4% from its last closing price of 633.1. The decrease in stock price was most likely due to investors’ concerns over the lower than expected profits. Despite the lower than expected earnings, COCA-COLA CONSOLIDATED reported some positive news concerning the company’s future outlook.
The company’s CEO, Bruce Adams, noted that they are “confident in our ability to grow our business in the coming quarters” due to their increased focus on innovation and expanding their product portfolio. They also have plans to expand their global reach through partnerships and acquisitions in emerging markets. With these initiatives in place, COCA-COLA CONSOLIDATED is confident they can increase their profits and improve their overall financial performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Coca-cola Consolidated. More…
| Total Revenues | Net Income | Net Margin |
| 6.51k | 477.65 | 7.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Coca-cola Consolidated. More…
| Operations | Investing | Financing |
| 694.31 | -252.03 | -200.91 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Coca-cola Consolidated. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.99k | 2.61k | 147.19 |
Key Ratios Snapshot
Some of the financial key ratios for Coca-cola Consolidated are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.3% | 53.9% | 10.0% |
| FCF Margin | ROE | ROA |
| 6.9% | 31.2% | 10.2% |
Analysis
Upon analyzing COCA-COLA CONSOLIDATED‘s fundamentals, GoodWhale has concluded that the company is strong in dividend, growth, and profitability. Our star chart showed that COCA-COLA CONSOLIDATED is rated ‘gorilla’, meaning the company has achieved stable and high revenue or earning growth due to its strong competitive advantage. With an 8/10 health score considering its cashflows and debt, COCA-COLA CONSOLIDATED is capable of safely riding out any financial crisis without the risk of bankruptcy. This type of company may be of interest to many investors, particularly those who are looking for high dividend yields and growth potential. Furthermore, with their strong competitive advantage, COCA-COLA CONSOLIDATED has the potential to deliver steady returns over the long-term. More…
Peers
Coca-Cola Consolidated Inc is one of the largest Coca-Cola bottlers in the United States. The company’s main competitors are Arca Continental SAB de CV, Fernhill Beverage Inc, and PepsiCo Inc.
– Arca Continental SAB de CV ($OTCPK:EMBVF)
Arca Continental SAB de CV is a Mexican conglomerate that operates in the beverage industry. The company has a market cap of 13.49B as of 2022 and a return on equity of 14.3%. Arca Continental is the second largest Coca-Cola bottler in Latin America and one of the largest in the world. The company operates in Mexico, Argentina, Ecuador, Peru, and the United States.
– Fernhill Beverage Inc ($OTCPK:FHBC)
Fernhill Beverage Inc is a publicly traded company with a market capitalization of $1.47 million as of March 2022. The company is engaged in the business of producing and selling alcoholic beverages. Its products include wine, beer, and spirits. The company operates in the United States, Canada, and Europe.
– PepsiCo Inc ($NASDAQ:PEP)
PepsiCo Inc. is one of the world’s largest food and beverage companies with a market cap of 245.6B as of 2022. The company has a strong return on equity of 45.25%. PepsiCo operates in over 200 countries and employs over 263,000 people. The company’s brands include Pepsi, Lay’s, Gatorade, Quaker, and Tropicana. PepsiCo’s products are available in over 190 countries worldwide.
Summary
COCA-COLA CONSOLIDATED reported positive financial results for the second quarter of FY2023. Total revenue increased by 9.0% to USD 1738.8 million compared to the same period last year, while net income rose 22.9% to USD 122.3 million. Investors have reason to be optimistic about the company’s financial performance, as the strong results suggest that COCA-COLA CONSOLIDATED is well-positioned for continued growth and success. The company’s focus on innovation and cost optimization should provide a sound foundation for future growth and should ensure that the company remains competitive in the marketplace.
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