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Coca-Cola Bottling profit misses consensus by 79.8% in fiscal Q1

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.