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Dec 31, 2021
Coca-Cola Consolidated Q4 2021 Earnings Report
Coca-Cola Consolidated reported an increase in net sales and a decrease in net income for the fourth quarter of 2021.
Key Takeaways
Coca-Cola Consolidated's fourth quarter 2021 net sales increased by 10% compared to the fourth quarter of 2020, while net income decreased by $47.3 million. The company faced supply chain disruptions and operating challenges due to the pandemic, but strong demand and pricing actions contributed to the sales increase.
Net sales increased 10% in Q4 2021, with a comparable increase of 15% when adjusted for selling days.
Physical case volume decreased 1.7% in Q4 2021, but increased 3.6% on a comparable selling day basis.
Gross profit increased $31.0 million, or 7%, while gross margin decreased 100 basis points to 35.1%.
Net income in the fourth quarter of 2021 was $19.1 million, compared to $66.4 million in the fourth quarter of 2020, a decline of $47.3 million, impacted by fair value adjustments.
Revenue by Segment
Forward Guidance
Coca-Cola Consolidated is optimistic about the year ahead and the opportunities it presents for them to grow profitably, while supporting their customers in this volatile, high-cost environment. They plan to continue investing in their teammates and strategically reinvest in their operations.
Positive Outlook
- Capital investments have strengthened the supply chain.
- A $220 million capital plan for 2022 will advance manufacturing capacity.
- A $220 million capital plan for 2022 will advance warehouse capability.
- Consumer demand for products remains extremely strong.
- Continue to execute local market strategies in close partnership with The Coca-Cola Company and other key brand partners.
Challenges Ahead
- Managing through a period of historically high cost inflation.
- Volatile environment.
- High-cost environment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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