Coca Cola Bottling Co. Consolidated Reports Q4 2016 And Full 2016 Results: Quarter's Net Sales Rise 35.8%

by Coca Cola Bottling Co. Consolidated Press Release
Posted On: 3/12/2017

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TAGS: Coca-Cola Bottling Co. Consolidated, Coke Consolidated, fourth quarter 2017, Coke Consolidated 2017 financials, Frank Harrison, Hank Flint


Source: Coca-Cola Bottling Co. Consolidated | Released March 8, 2017

CHARLOTTE, NC--March 8, 2017-- Coca Cola Bottling Co. Consolidated reported on March 8 operating results for the fourth quarter and the year, ended Jan. 1, 2017. Highlights were:

» Net sales in Q4 2016 increased 35.8% and comparable net sales increased 6.3%;

» Income from operations in Q4 2016 increased 37.3% and comparable income from operations increased 20.7%;

» Basic net income per share in Q4 2016 increased to $2.31 from $0.46 and comparable basic net income per share increased 12.5% to $0.72;

» Equivalent unit case volume in Q4 2016 grew 35.7% and comparable equivalent unit case volume grew 5.6%.

Frank Harrison, chairman and chief executive, said, "We are pleased to close another successful year with solid organic growth in our business along with continued expansion through acquisitions. Since the first announcement of our territory expansion in 2013, the company has nearly doubled its net sales to over $3 billion in 2016.

We have also grown our employee base, adding over 7,000 new members to the Coca Cola Consolidated family. We are most thankful for the ongoing and outstanding efforts of all of our employees who are responsible for our strong operating results and the successful integration of our new territories."

Hank Flint, president and chief operating officer, added, "Our ongoing focus on growing our business resulted in strong operating performance in 2016 with total revenue increasing by almost 37% and revenue on a comparable basis up 7%. The comparable revenue growth was driven by solid performance across our beverage portfolio with volume of sparkling beverages up 2.4% and of still beverages up over 11%. Our increased revenue also helped drive solid growth in our income from operations. We are pleased with the ongoing transition of new territories acquired during the past three years and the opportunities they provide for continued investment in people, markets and communities as well as future growth in both revenue and income from operations. We are also grateful for all of our 14,000 employees and their contributions during 2016."

Click here for full press release and consolidated statements of operations.

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