NASDAQ$COKE
Coca-Cola Consolidated Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported a solid quarter of operating performance, leveraging strong brands and disciplined pricing.
Coca-Cola Consolidated reported a 5% increase in net sales for Q3 2023, reaching $1.71 billion. Income from operations increased by 14% to $216.3 million. The company achieved a milestone by becoming net debt free for the first time in almost 40 years.
- Net sales increased by 5% compared to Q3 2022.
- Income from operations rose by 14% compared to Q3 2022.
- Gross profit increased by 7% with gross margin improving to 38.6%.
- Company became net debt free for the first time in almost 40 years.
Headline financials
Revenue & EPS history
Coca-Cola Consolidated · Revenue · Quarterly
$1.71B
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
Sales growth is expected to slow further in the fourth quarter as the company fully cycles 2022 price increases.
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 Q3 2023
+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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