Coca-Cola Consolidated, Inc. (NASDAQ: COKE) reported strong financial results for the fourth quarter and fiscal year 2024, driven by increased net sales, higher gross profit, and improved operating margins.

Fourth-quarter net sales grew by 7.1% to $1.75 billion, supported by a 7.7% rise in sparkling beverage sales and an 8.7% increase in still beverage sales. Gross profit reached $698 million, reflecting an 8.8% increase, with gross margin improving to 40%. Operating income rose by 22.6% to $219 million, while net income more than doubled to $179 million. Fiscal year 2024 net sales totaled $6.9 billion, marking a 3.7% increase, with income from operations reaching $920 million, up 10.3% from 2023.

Despite a slight decline in full-year volume by 0.6%, the company benefited from pricing adjustments, stable commodity costs, and strong demand for multi-serve, value-oriented packages. The company also repurchased $626 million of its common stock and increased its annual dividend to $10 per share.

Looking ahead, Coca-Cola Consolidated expects a slower pace of financial growth in 2025 but remains optimistic about its commercial strategies and brand performance. It anticipates capital expenditures of approximately $300 million in the coming year, down from $371 million in 2024.