Business
Coca-Cola Consolidated Reports Fourth Quarter and Fiscal Year 2024 Results
Fourth quarter of 2024 net sales increased 7% versus the fourth quarter of 2023.Gross profit in the fourth quarter of 2024 was $698 million, an increase of 9%
About this update from Coca-cola Consolidated, Inc.
[{"type":"text","content":"Fourth quarter of 2024 net sales increased 7% versus the fourth quarter of 2023.Gross profit in the fourth quarter of 2024 was $698 million, an increase of 9% versus the fourth quarter of 2023. Gross margin in the fourth quarter of 2024 improved by 70 basis points(a) to 40%.Income from operations for the fourth quarter of 2024 was $219 million, an increase of $40 million, or 23%, versus the fourth quarter of 2023. For fiscal year 2024, income from operations increased $86 million to $920 million. Key Results Fourth Quarter Fiscal Year (in millions) 2024 2023 Change 2024 2023 ChangeVolume(1) 89.7 88.5 1.3% 353.1 355.4 (0.6)%Net sales$1,746.5 $1,631.0 7.1% $6,899.7 $6,653.9 3.7%Gross profit$697.9 $641.5 8.8% $2,753.2 $2,598.7 5.9%Gross margin 40.0% 39.3% 39.9% 39.1% Income from operations$218.7 $178.5 22.6% $920.4 $834.5 10.3%Operating margin 12.5% 10.9% 13.3% 12.5% Beverage SalesFourth Quarter Fiscal Year (in millions) 2024 2023 Change 2024 2023 ChangeSparkling bottle/can$1,083.5 $1,006.1 7.7% $4,106.1 $3,892.1 5.5%Still bottle/can$531.3 $488.6 8.7% $2,227.2 $2,149.6 3.6% (1) Volume is measured on a standard physical case basis and is used to standardize differing package configurations delivered via direct store delivery (“DSD”). Fourth Quarter and Fiscal Year 2024 Review CHARLOTTE, N.C., Feb. 20, 2025 (GLOBE NEWSWIRE) -- Coca‑Cola Consolidated, Inc. (NASDAQ: COKE) today reported operating results for the fourth quarter and the fiscal year ended December 31, 2024. “We are very pleased with our solid operating and financial performance in 2024 and thankful for the unwavering commitment of our 17,000 teammates who contributed to this success,” said J. Frank Harrison, III, Chairman and Chief Executive Officer. “Our financial performance has enabled us to reinvest in our business for long-term growth while returning substantial cash to our stockholders. During 2024, we invested over $370 million in capital expenditures, repurchased approximately $626 million of our Common Stock and increased our annualized regular dividend to $10 per share.” Net sales increased 7.1% to $1.7 billion in the fourth quarter of 2024 and increased 3.7% to $6.9 billion in fiscal year 2024. Sparkling and Still net sales increased 7.7% and 8.7%, respectively, compared to the fourth quarter of 2023. Net sales in the fourth quarter of 2024 were positively impa...