Will Coca-Cola Bottling (COKE) See Earnings Growth In Q3?
Zacks Investment Research | Nov 06, 2017 02:57AM ET
Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE) is scheduled to report third-quarter 2017 financial numbers on Nov 7.
This large independent bottler of The Coca-Cola Company (NYSE:KO) has an encouraging strategy to grow both organically and through the acquisition of additional manufacturing and distribution territory.
In the first half of 2017, Coca-Cola Bottling reported net sales of $2.03 billion, up 38.8% year over year primarily on acquisitions and a 2.3% hike in comparable net sales on 1.9% rise in comparable equivalent unit case volumes. The trend is expected to continue in the third quarter as the company usually experiences higher sales in the second and third quarters of the year.
The sparkling product portfolio and the higher margin still product range drove comparable net sales. Sparkling product comparable volumes grew 1% year over year while that of still products increased 4.1% in the first six months of 2017. This is expected to continue in the to-be-reported quarter.
However, higher expenses (such as expansion transaction and amortization expenses) might dent the company’s bottom line. Notably, the stock saw dismal trading in the third quarter, with the stock losing 5.8%, compared to the Zacks Investment Research
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