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Coca-Cola Bottling fiscal Q2 profit climbs 48.7% YOY

Coca-Cola Bottling Co. Consolidated said its normalized net income for the fiscal second quarter ended July 3 amounted to $2.82 per share, compared with the S&P Capital IQ consensus estimate of $2.75 per share.

EPS increased 48.3% year over year from $1.90.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $26.4 million, an increase of 48.7% from $17.8 million in the second quarter ended June 28, 2015.

The normalized profit margin climbed to 3.1% from 2.9% in the year-earlier period.

Total revenue rose 36.7% on an annual basis to $840.4 million from $614.7 million, and total operating expenses rose 36.3% from the prior-year period to $785.6 million from $576.4 million.

Reported net income decreased 42.1% from the prior-year period to $15.6 million, or $1.67 per share, from $27.0 million, or $2.89 per share.