COCA-COLA CONSOLIDATED Reports Second Quarter FY2023 Earnings Results
August 22, 2023
🌥️Earnings Overview
On August 2, 2023, COCA-COLA CONSOLIDATED ($NASDAQ:COKE) announced their financial results for the second quarter of FY2023 (ending June 30, 2023). The company reported total revenue of USD 1738.8 million, representing an impressive 9.0% year-on-year increase, and net income of USD 122.3 million, up 22.9% year-on-year.
Market Price
The stock opened at $630.1 and closed at $624.0, down 1.4% from its previous closing price of 633.1. This decline in stock price is reflective of the company’s performance in the second quarter. The company reported disappointing revenue and profit numbers as compared to expectations. Despite the lower than expected financial results, COCA-COLA CONSOLIDATED’s management was optimistic about the future.
CEO James Quincey stated that the company was focused on long-term growth opportunities and was confident that its strategic initiatives would eventually pay off in the future. Overall, investors were not enthused about COCA-COLA CONSOLIDATED’s earnings results and the stock declined in response. The company’s management is hopeful that the long-term strategic initiatives will yield better results in the coming quarters. 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
As a GoodWhale analyst, I have conducted an analysis of COCA-COLA CONSOLIDATED‘s financials. My assessment has determined that the company is classified as a ‘gorilla’, meaning that it has achieved stable and high revenue or earning growth due to its strong competitive advantage. This makes COCA-COLA CONSOLIDATED an attractive prospect for investors looking for a reliable and profitable investment. The GoodWhale Star Chart also indicates that COCA-COLA CONSOLIDATED has a high health score of 8/10 with regards to its cashflows and debt, indicating that it is capable of sustaining future operations in times of economic difficulty. Further, the company is strong in dividend, growth, and profitability, and medium in asset, making it an attractive option for those wishing to invest in a secure and dependable business. 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
Investing in Coca-Cola Consolidated is looking very attractive after the company released its second quarter results for FY2023. Total revenue was up 9.0% year-over-year, and net income increased 22.9%, totaling USD 122.3 million. These impressive figures suggest that the company has been able to maintain a steady growth in spite of the global pandemic. With strong financials and a promising outlook, Coca-Cola Consolidated is a great option for investors looking for a stable, long-term investment.
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