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Coca-Cola Bottling profit beats consensus by 30.6% in fiscal Q1

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Coca-Cola Bottling profit beats consensus by 30.6% in fiscal Q1

Coca-Cola Bottling Co. Consolidated said its normalized net income for the fiscal first quarter ended March 29 came to 56 cents per share, compared with the S&P Capital IQ consensus estimate of 43 cents per share.

EPS increased year over year from 26 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.2 million, a gain from $2.4 million in the prior-year period.

The normalized profit margin increased to 1.2% from 0.6% in the year-earlier period.

Total revenue grew 16.6% year over year to $453.3 million from $388.6 million, and total operating expenses grew 15.9% from the prior-year period to $436.4 million from $376.5 million.

Reported net income decreased 7.5% year over year to $2.2 million, or 24 cents per share, from $2.4 million, or 26 cents per share.