Coca-Cola Bottling (COKE) Q1 Earnings Flat, Revenues Grow

Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE) , one of the largest independent bottlers of The Coca-Cola Company’s (NYSE:KO) products, reported adjusted earnings of 45 cents per share in the first quarter of fiscal 2017 (ending Apr 2, 2017). The reported number was flat year over year.

Coca-Cola Bottling reported net sales of $865.7 million, up 38.4% year over year primarily on acquisitions and higher comparable net sales.

Comparable net sales increased 1.8% driven by a 2.6% rise in comparable equivalent unit case volumes. Sparkling product volume grew 1.3% and that of still products increased 6%.

Comparable income from operations declined 10.2% to $16.5 million on a year-over-year basis, due to the shift in the Easter holiday and an increase in selling, delivery and administrative expenses.

The company expects to continue growing both organically and through the acquisition of additional manufacturing and distribution territory.

Financials

Cash and cash equivalents were $31.9 million as of Apr 2, 2017 compared with $21.9 million at the end of 2016.

Cash flow from operations was $116.5 million in the quarter compared with cash used in operating activities of $15.2 million in the year ago period.

Peer Releases

The Coca-Cola Company’s first-quarter 2017 adjusted earnings were 43 cents per share, missing the Zacks Consensus Estimate of 43 cents by 2.3%. Net revenue of $9.12 billion surpassed the Zacks Consensus Estimate of $8.97 billion.

PepsiCo, Inc. (NYSE:PEP) reported better-than-expected results in first-quarter 2017 (ending Mar 25), with both earnings and revenues beating the Zacks Consensus Estimate. PepsiCo’s first-quarter core earnings per share (EPS) of 94 cents beat the Zacks Consensus Estimate of 91 cents by 3.3%. Total sales of $12.05 billion surpassed the Zacks Consensus Estimate of $11.97 billion by 0.7%.

Monster Beverage Corporation (NASDAQ:MNST) reported first-quarter 2017 results, wherein both earnings and revenues surpassed expectations. Monster Beverage’s first-quarter adjusted earnings of 33 cents per share beat the Zacks Consensus Estimate of 32 cents by a penny. Net sales of $742.1 million surpassed the Zacks Consensus Estimate of $741.4 million by 0.1%.

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