Summary by Moomoo AI
Coca-Cola Consolidated, Inc. reported strong financial results for fiscal year 2024, with net sales increasing 3.7% to $6.90 billion and net income surging 55% to $633.1 million. Sparkling beverage sales rose 5.5% while Still beverage sales grew 3.6%. The improved performance was driven by higher pricing, strong Sparkling volume growth, and continued moderation in commodity costs.Gross profit increased 5.9% to $2.75 billion with gross margin expanding 80 basis points to 39.9%, benefiting from pricing actions and favorable product mix. Operating income grew 10.3% to $920.4 million despite a 3.9% increase in selling, delivery and administrative expenses primarily due to higher labor costs. The company maintained strong operational execution while investing $371 million in capital expenditures.Looking ahead, the company remains focused on executing its commercial strategy, optimizing supply chain, and generating strong cash flows. During 2024, Coca-Cola Consolidated completed several strategic initiatives including a $1.2 billion bond issuance and share repurchases totaling $625.7 million. The company also increased its regular quarterly dividend from $0.50 to $2.50 per share, demonstrating confidence in its business model and commitment to shareholder returns.
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