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Coca-Cola Bottling profit misses consensus by 19.7% in fiscal Q3

Coca-Cola Bottling Co. Consolidated said its normalized net income for the fiscal third quarter ended Oct. 2 was $1.83 per share, compared with the S&P Capital IQ consensus estimate of $2.28 per share.

EPS climbed 54.0% year over year from $1.19.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $17.2 million, an increase of 54.3% from $11.1 million in the third quarter ended Sept. 27, 2015.

The normalized profit margin climbed to 2.0% from 1.8% in the year-earlier period.

Total revenue climbed 37.2% year over year to $849.0 million from $618.8 million, and total operating expenses climbed 36.9% from the prior-year period to $809.2 million from $591.1 million.

Reported net income decreased 9.7% on an annual basis to $23.1 million, or $2.47 per share, from $25.6 million, or $2.74 per share.