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CocaCola Bottling Co. Consolidated (COKE) filed Quarterly Report for the period ended 2011-10-02.
Cocacola Bottling Co. Consolidated has a market cap of $501.84 million; its shares were traded at around $54.5 with a P/E ratio of 15.31 and P/S ratio of 0.33. The dividend yield of Cocacola Bottling Co. Consolidated stocks is 1.83%.
This is the annual revenues and earnings per share of COKE over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of COKE.
Highlight of Business Operations:
The Company’s net sales increased 2.7% in Q3 2011 compared to Q3 2010. The Company’s net sales increased 2.4% in YTD 2011 compared to YTD 2010. The increases in net sales were primarily due to a .9% and 1.8% increase in bottle/can sales price per unit in Q3 2011 and YTD 2011 compared to Q3 2010 and YTD 2010. The increases in bottle/can sales price per unit were primarily due to increases in sales price per unit in sparkling beverages and a change in product mix due to a higher percentage of still beverage sales. Still beverages have a higher sales price per unit than sparkling beverages. Bottle/can sales volume was unchanged in Q3 2011Gross margin dollars decreased 6.0% in Q3 2011 compared to Q3 2010. The Company’s gross margin percentage decreased to 40.1% for Q3 2011 from 43.8% for Q3 2010. Gross margin dollars decreased 2.1% in YTD 2011 compared to YTD 2010. The Company’s gross margin percentage decreased to 40.2% in YTD 2011 from 42.0% in YTD 2010. The decrease in gross margin percentage was primarily due to higher costs of raw materials and partially offset by higher sales price per unit for bottle/can volume. Higher cost related to the Company’s aluminum hedging program also reduced Q3 2011 compared to Q3 2010 gross margin percentage.
Gross margin dollars decreased 6.0%, or $10.4 million, to $162.7 million in Q3 2011 compared to $173.1 million in Q3 2010. Gross margin as a percentage of net sales decreased to 40.1% for Q3 2011 from 43.8% for Q3 2010. Gross margin dollars decreased 2.1%, or $10.4 million, to $477.4 million in YTD 2011 compared to $487.8 in YTD 2010. Gross margin as a percentage of net sales decreased to 40.2% for YTD 2011 from 42.0% for YTD 2010.
Shipping and handling costs related to the movement of finished goods from manufacturing locations to sales distribution centers are included in cost of sales. Shipping and handling costs related to the movement of finished goods from sales distribution centers to customer locations are included in S,D&A expenses and totaled $144.5 million and $140.3 million in YTD 2011 and YTD 2010, respectively.
In the first quarter of 2011, the Company entered into leases for two sales distribution centers. Each lease has a term of 15 years with various monthly rental payments. The capital lease obligation incurred for the two leases was $18.6 million.
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