Welcome to our dedicated page for Coca-Cola Consolidated news (Ticker: COKE), a resource for investors and traders seeking the latest updates and insights on Coca-Cola Consolidated stock.
Coca-Cola Consolidated, Inc. (NASDAQ: COKE) is the largest independent Coca-Cola bottler in the United States. Founded in 1902 by J.B. Harrison in Greensboro, North Carolina, the company has grown into a family-operated business with a rich history. Today, it operates under the leadership of J. Frank Harrison, III, the great-grandson of the founder, who became CEO in 1997.
Coca-Cola Consolidated not only makes but also sells and distributes over 250 brands and flavors of nonalcoholic beverages. The company operates in 14 states, primarily in the southeastern U.S., with its corporate headquarters located in Charlotte, North Carolina. The company purchases concentrate and syrups from other beverage manufacturers under license agreements, most notably from Coca-Cola Co. This allows Coca-Cola Consolidated to exclusively produce, market, and distribute Coca-Cola products in designated regions.
The company’s operations are divided into two main segments: Nonalcoholic Beverages, which accounts for the majority of its revenue, and All Other segments. The comprehensive product portfolio includes sparkling beverages, still beverages, energy drinks, and enhanced water products. Key brands include Coca-Cola, Monster, and smartwater.
Committed to community, environmental stewardship, and profitable growth, Coca-Cola Consolidated’s overarching purpose is to
Coca-Cola Consolidated (NASDAQ: COKE) reported strong Q3 2024 results with net sales increasing 3.1% to $1.8 billion. Gross profit rose 5.5% to $698 million, with gross margin improving by 90 basis points to 39.5%. Income from operations grew 5% to $227.1 million, while net income increased to $115.6 million from $92.1 million in Q3 2023. Sparkling beverage sales showed robust growth of 5.8%, though standard physical case volume declined 2.1%. The company completed the purchase of its Nashville production facility for $56 million and expects capital expenditures of approximately $350 million for full-year 2024.
Coca-Cola Consolidated, Inc. (NASDAQ: COKE) has announced that it will release its third quarter and first nine months 2024 operating results on October 30, 2024, after the market closes. The report will cover the period ended September 27, 2024.
As the largest Coca-Cola bottler in the United States, Coca-Cola Consolidated operates across 14 states and the District of Columbia, serving approximately 60 million consumers. The company produces, sells, and distributes beverages of The Coca-Cola Company and other partners, offering over 300 brands and flavors.
With a history spanning over 122 years, Coca-Cola Consolidated emphasizes its commitment to consumers, customers, and communities. The company's purpose is centered on honoring God, serving others, pursuing excellence, and growing profitably.
Coca-Cola Consolidated (NASDAQ: COKE) has announced significant changes to its shareholder return strategy. The company's Board of Directors has increased the quarterly dividend from $0.50 to $2.50 per share, payable on November 8, 2024, to stockholders of record as of October 25, 2024. Additionally, the Board has approved a $1.0 billion share repurchase program for the Company's Common Stock.
CEO J. Frank Harrison, III, attributed these decisions to the company's improved profitability and strengthened balance sheet, emphasizing their commitment to building long-term value for stockholders while reinvesting in the business and employees.
Coca-Cola Consolidated (NASDAQ: COKE) reported strong Q2 2024 results, with net sales increasing 3.3% to $1.8 billion and gross profit rising 6.7% to $716.7 million. The company's gross margin improved by 130 basis points to 39.9%, while income from operations grew 10.9% to $259.1 million. Key highlights include:
- Sparkling and Still net sales increased 4.4% and 4.2% respectively
- Standard physical case volume decreased 1.2%
- Operating margin improved to 14.4% from 13.4% in Q2 2023
- Net income rose to $172.8 million, up from $122.3 million in Q2 2023
The company attributes its success to pricing actions, margin management, and operating efficiency. Coca-Cola Consolidated also made progress in building long-term value for stockholders through significant share repurchases.
Coca-Cola Consolidated, Inc. (NASDAQ: COKE), the largest Coca-Cola bottler in the United States, has announced it will release its second quarter and first half 2024 financial results on July 31, 2024, after market close. The report will cover the period ended June 28, 2024. As a key player in the beverage industry, Coca-Cola Consolidated serves approximately 60 million consumers across 14 states and the District of Columbia, offering over 300 brands and flavors of beverages from The Coca-Cola Company and other partners. The company, headquartered in Charlotte, N.C., has a rich history spanning 122 years and is committed to serving its communities while pursuing excellence and profitable growth.
Coca-Cola Consolidated, the largest Coca-Cola bottler in the United States, announced a third quarter dividend of $0.50 per share for 2024. This dividend applies to both Common Stock and Class B Common Stock. The dividend will be paid on August 9, 2024, to shareholders who are recorded as of the close of business on July 26, 2024.
Headquartered in Charlotte, NC, Coca-Cola Consolidated serves approximately 60 million consumers across 14 states and the District of Columbia. The company is listed on the Nasdaq Global Select Market under the symbol 'COKE'.
Coca-Cola Consolidated (NASDAQ: COKE) announced the final results of its modified Dutch auction tender offer, which ended on June 18, 2024. The company accepted 14,391.5 shares at $925 each, totaling approximately $13.3 million. This represents 0.2% of the company’s outstanding common stock as of June 18, 2024.
Following the tender offer, Coca-Cola Consolidated will buy 598,619 shares from Carolina Coca-Cola Bottling Investments (CCCBI) for about $553.7 million. This will ensure CCCBI holds 21.5% of the company’s shares post-transaction. The repurchase is expected to close on July 5, 2024.
The company may consider further share repurchases based on market conditions, its business and financial health, and other factors.
Coca-Cola Consolidated announced the preliminary results of its modified 'Dutch auction' tender offer, which expired on June 18, 2024. A total of 14,392.5 shares were tendered and not withdrawn at or below the purchase price of $925 per share. The company expects to accept these shares for a total cost of approximately $13.3 million. This represents about 0.2% of the outstanding shares as of June 18, 2024. Additionally, Coca-Cola Consolidated plans to repurchase 598,619 shares from Carolina Coca-Cola Bottling Investments, an indirect subsidiary of The Coca-Cola Company, for approximately $553.7 million. CEO J. Frank Harrison, III, expressed satisfaction with the results, interpreting the undersubscribed tender offer as a sign of shareholder confidence. The final numbers are subject to confirmation by the Depositary, with formal announcements and payments expected shortly after.
Coca-Cola Consolidated (NASDAQ: COKE) has announced the start of a modified 'Dutch auction' tender offer to buy back up to $2.0 billion of its common stock. Shareholders can tender their shares at a price between $850 and $925 per share or opt for a non-specified purchase price. The company will use a mix of cash, credit, and potentially new loans and senior unsecured notes to fund the tender offer. The tender offer will expire on June 18, 2024, unless extended or terminated. The offer is subject to a Financing Condition requiring the company to secure at least $2.5 billion in aggregate proceeds from new term loans or notes. Innisfree M&A will act as information agent and Equiniti Trust as the depositary. The company's Board of Directors has authorized the offer, but no recommendations are provided on whether shareholders should tender their shares.
Coca-Cola Consolidated reported strong first-quarter results with an increase in income from operations, operating margin, and gross profit. The company plans to repurchase up to $3.1 billion of its Common Stock. Net sales increased by 1%, driven by a price increase and improved volume in the Sparkling category. The company's gross margin improved by 50 basis points, and net income saw a significant improvement. The Company also announced its intention to utilize debt to optimize its balance sheet and return cash to stockholders.
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