NASDAQ$COKE
Coca-Cola Consolidated Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Coca-Cola Consolidated reported solid first quarter results driven by improved profit margins and strong free cash flow, and announced intention to repurchase up to $3.1 billion of its common stock.
Coca-Cola Consolidated's first quarter 2024 results showed a net sales increase of 1% to $1.6 billion. The company's operating income increased by 5% to $215.4 million, and the operating margin improved by 40 basis points to 13.5%. They also announced the intention to repurchase up to $3.1 billion of its common stock.
- Net sales increased by 1% to $1.6 billion, driven by annual price increases.
- Operating income rose by 5% to $215.4 million, with an operating margin of 13.5%.
- Gross profit increased by 3% to $640.6 million, with gross margin improving to 40.2%.
- The company intends to repurchase up to $3.1 billion of its common stock.
Headline financials
Revenue & EPS history
Coca-Cola Consolidated · Revenue · Quarterly
$1.59B
Revenue by segment
Coca-Cola Consolidated · $1.55B total across 2 segments · Q3 2023
- Sparkling bottle/can$978M+6.6%62.9%
- Still bottle/can$576M+5.1%37.1%
Forward guidance
The company intends to utilize its solid financial position and projected strong cash flow to delever over the coming years while maintaining our current regular quarterly dividend and a solid investment grade rating profile.
Tailwinds
- Optimize balance sheet by raising a prudent amount of debt
- Return cash to stockholders
- Maintain current regular quarterly dividend
- Maintain solid investment grade rating profile
- Projected strong cash flow
Headwinds
- Increased costs due to inflation
- Disruption of supply or unavailability or shortages of raw materials, fuel and other supplies
- Changes in public and consumer perception and preferences
- Changes in government regulations related to nonalcoholic beverages
- Failure to attract, train and retain qualified employees while controlling labor costs, and other labor issues
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.4%
Avg return
Earnings day
+2.7%
Avg return
5 days after
+7.6%
Avg return
30 days after
56%
36 / 64 earnings
Positive
+18.3%
Q1 2024
Best reaction
-22.3%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.7% | -18.2% | -14.6% | |
| Q4 2025 | +3.8% | +14.6% | +18.3% | |
| Q3 2025 | +3.4% | +4.4% | +27.3% | |
| Q1 2025 | -12.0% | -13.4% | -15.4% | |
| Q4 2024 | -4.1% | -5.0% | -9.8% | |
| Q3 2024 | -7.1% | -5.5% | +7.8% | |
| Q2 2024 | +8.8% | +6.6% | +17.7% | |
| Q1 2024 | +18.3% | +11.6% | +17.0% | |
| Q4 2023 | -2.7% | +1.4% | +4.5% | |
| Q3 2023 | +1.1% | +4.4% | +14.2% | |
| Q2 2023 | +11.8% | +12.6% | +5.6% | |
| Q1 2023 | +10.8% | +9.8% | +16.6% | |
| Q4 2022 | +10.0% | +11.6% | +1.2% | |
| Q3 2022 | -6.0% | +1.0% | +2.8% | |
| Q2 2022 | -2.6% | -4.1% | -8.9% | |
| Q1 2022 | +10.5% | +7.8% | +34.2% | |
| Q4 2021 | -22.3% | -15.0% | -16.7% | |
| Q3 2021 | +12.5% | +19.7% | +26.3% | |
| Q2 2021 | +3.1% | +5.6% | +1.5% | |
| Q1 2021 | +6.8% | +13.8% | +50.2% | |
| Q4 2020 | -2.4% | -3.2% | +13.0% | |
| Q3 2020 | +2.6% | +4.9% | +15.6% | |
| Q2 2020 | +17.6% | +15.0% | +21.0% | |
| Q1 2020 | +3.0% | +3.5% | +4.1% | |
| Q4 2019 | -20.8% | -26.0% | -17.1% | |
| Q3 2019 | +1.8% | +3.8% | +4.5% | |
| Q2 2019 | +15.9% | +19.1% | +9.1% | |
| Q1 2019 | +5.7% | +14.0% | -8.3% | |
| Q4 2018 | +4.7% | +13.4% | +29.8% | |
| Q3 2018 | +1.4% | +5.5% | +21.3% | |
| Q2 2018 | +9.4% | +9.3% | +17.7% | |
| Q1 2018 | -19.5% | -20.8% | -21.7% | |
| Q4 2017 | +0.5% | +3.0% | -7.0% | |
| Q3 2017 | -8.0% | -12.7% | +0.4% | |
| Q2 2017 | -14.7% | -13.9% | -12.4% | |
| Q1 2017 | -0.2% | -2.5% | +11.6% | |
| Q4 2016 | -0.9% | -1.9% | +14.1% | |
| Q3 2016 | +12.4% | +19.3% | +15.3% | |
| Q2 2016 | +8.4% | +10.6% | +7.1% | |
| Q1 2016 | -11.8% | — | — | |
| Q4 2015 | +0.0% | — | — | |
| Q3 2015 | -16.0% | — | — | |
| Q2 2015 | +3.5% | — | — | |
| Q1 2015 | +0.8% | — | — | |
| Q4 2014 | -4.7% | — | — | |
| Q3 2014 | -0.7% | — | — | |
| Q2 2014 | +1.6% | — | — | |
| Q1 2014 | -4.8% | — | — | |
| Q4 2013 | +2.1% | — | — | |
| Q3 2013 | -0.5% | — | — | |
| Q2 2013 | -2.6% | — | — | |
| Q1 2013 | +0.9% | — | — | |
| Q4 2012 | -3.2% | — | — | |
| Q3 2012 | -0.2% | — | — | |
| Q2 2012 | -0.8% | — | — | |
| Q1 2012 | -0.7% | — | — | |
| Q3 2011 | +1.1% | — | — | |
| Q2 2011 | -1.1% | — | — | |
| Q1 2011 | -0.1% | — | — | |
| Q4 2010 | +4.4% | — | — | |
| Q3 2010 | +3.0% | — | — | |
| Q2 2010 | +1.1% | — | — | |
| Q1 2010 | -6.0% | — | — | |
| Q4 2009 | +0.4% | — | — |
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