Coca-Cola Bottling Co. Consolidated said its normalized net income for the fiscal first quarter ended April 2 amounted to 21 cents per share, compared with the S&P Capital IQ consensus estimate of $1.04 per share.
EPS climbed year over year from 10 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.0 million, a gain from $892,000 in the year-earlier period.
The normalized profit margin rose to 0.2% from 0.1% in the year-earlier period.
Total revenue climbed 38.4% on an annual basis to $865.7 million from $625.5 million, and total operating expenses rose 39.0% on an annual basis to $852.1 million from $613.0 million.
Reported net income came to a loss of $5.0 million, or a loss of 54 cents per share, compared to a loss of $10.0 million, or a loss of $1.08 per share, in the prior-year period.