CocaCola Bottling Co. Consolidated (COKE, Financial) filed Quarterly Report for the period ended 2010-07-04.
Cocacola Bottling Co. Consolidated has a market cap of $455.2 million; its shares were traded at around $49.56 with a P/E ratio of 19.2 and P/S ratio of 0.3. The dividend yield of Cocacola Bottling Co. Consolidated stocks is 1.9%.COKE is in the portfolios of Louis Moore Bacon of Moore Capital Management, LP, Jim Simons of Renaissance Technologies LLC.
Distribution costs represent the costs of transporting finished goods from Company locations to customer outlets. Total distribution costs amounted to $92.6 million and $92.0 million in YTD 2010 and YTD 2009, respectively. Over the past several years, the Company has focused on converting its distribution system from a conventional routing system to a predictive system. This conversion to a predictive system has allowed the Company to more efficiently handle increasing numbers of products. In addition, the Company has closed a number of smaller sales distribution centers over the past several years reducing its fixed warehouse-related costs.
The Companys net sales increased 10.5% in Q2 2010 compared to Q2 2009. The increase in net sales was primarily due to a 14% increase in bottle/can volume and a $6.1 million increase in sales of the Companys own brand portfolio (primarily Tum-E Yummies) partially offset by a 3.8% decrease in average sales price per bottle/can unit. The Companys net sales increased 7.1% in YTD 2010 compared to YTD 2009. The increase in net sales was primarily due to a 9.9% increase in bottle/can volume and a $10.8 million increase in sales of the Companys own brand portfolio (primarily Tum-E Yummies) partially offset by a 3.8% decrease in average sales price per bottle/can unit. The increases in bottle/can volume were primarily due to an increase in volume in all product categories except energy products. The decreases in average sales price per bottle/can unit were primarily due to decreased sales prices in all product categories and a change in product mix primarily due to increased sales of future consumption 12-ounce cans which have a lower sales price per unit compared to immediate consumption products. The increases in sales of the Companys own brand portfolio were primarily due to CCEs distribution of the Companys Tum-E Yummies product beginning in the first quarter of 2010.
Net sales increased $39.6 million, or 10.5%, to $417.4 million in Q2 2010 compared to $377.7 million in Q2 2009. Net sales increased $50.8 million, or 7.1% to $764.9 million in YTD 2010 compared to $714.0 million in YTD 2009.
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Cocacola Bottling Co. Consolidated has a market cap of $455.2 million; its shares were traded at around $49.56 with a P/E ratio of 19.2 and P/S ratio of 0.3. The dividend yield of Cocacola Bottling Co. Consolidated stocks is 1.9%.COKE is in the portfolios of Louis Moore Bacon of Moore Capital Management, LP, Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
During May 2010, Nashville, Tennessee experienced a severe rain storm which caused extensive flood damage in the area. The Company has a production/sales distribution facility located in the flooded area. Due to damage incurred during this flood, the Company recorded a loss of approximately $.2 million on uninsured cold drink equipment. This loss was offset by gains of approximately $.8 million for the excess of insurance proceeds received as compared to the net book value of production equipment damaged as a result of the flood. In Q2 2010, the Company recorded a receivable of $6.2 million for insured losses of which $1.5 million has already been paid as of Q2 2010. The Company does not expect to incur any significant expenses related to the Nashville area flood for the remainder of 2010.Distribution costs represent the costs of transporting finished goods from Company locations to customer outlets. Total distribution costs amounted to $92.6 million and $92.0 million in YTD 2010 and YTD 2009, respectively. Over the past several years, the Company has focused on converting its distribution system from a conventional routing system to a predictive system. This conversion to a predictive system has allowed the Company to more efficiently handle increasing numbers of products. In addition, the Company has closed a number of smaller sales distribution centers over the past several years reducing its fixed warehouse-related costs.
The Companys net sales increased 10.5% in Q2 2010 compared to Q2 2009. The increase in net sales was primarily due to a 14% increase in bottle/can volume and a $6.1 million increase in sales of the Companys own brand portfolio (primarily Tum-E Yummies) partially offset by a 3.8% decrease in average sales price per bottle/can unit. The Companys net sales increased 7.1% in YTD 2010 compared to YTD 2009. The increase in net sales was primarily due to a 9.9% increase in bottle/can volume and a $10.8 million increase in sales of the Companys own brand portfolio (primarily Tum-E Yummies) partially offset by a 3.8% decrease in average sales price per bottle/can unit. The increases in bottle/can volume were primarily due to an increase in volume in all product categories except energy products. The decreases in average sales price per bottle/can unit were primarily due to decreased sales prices in all product categories and a change in product mix primarily due to increased sales of future consumption 12-ounce cans which have a lower sales price per unit compared to immediate consumption products. The increases in sales of the Companys own brand portfolio were primarily due to CCEs distribution of the Companys Tum-E Yummies product beginning in the first quarter of 2010.
Net sales increased $39.6 million, or 10.5%, to $417.4 million in Q2 2010 compared to $377.7 million in Q2 2009. Net sales increased $50.8 million, or 7.1% to $764.9 million in YTD 2010 compared to $714.0 million in YTD 2009.
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