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.
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.
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