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coca-cola bottling -cl b (COKEB) Snapshot

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Market Cap
817.6M
Average Volume 10 Days
0.0
EPS TTM
$3.33
Shares Outstanding
2.1M
EX-Date
10/29/14
P/E TM
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Dividend
$1.00
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Current Stock Chart for COCA-COLA BOTTLING -CL B (COKEB)

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coca-cola bottling -cl b (COKEB) Details

Coca-Cola Bottling Co. Consolidated, together with its subsidiaries, produces, markets, and distributes nonalcoholic beverages, primarily products of The Coca-Cola Company in the southeastern region of the United States. It offers sparkling beverages comprising energy drinks; and still beverages, such as bottled water, tea, ready-to-drink coffee, enhanced water, juices, and sports drinks. The company holds cola beverage agreements and allied beverage agreements, under which it produces, distributes, and markets sparkling beverage products of The Coca-Cola Company in certain regions. It also distributes and markets still beverages of The Coca-Cola Company, including POWERade, vitaminwater, and Minute Maid Juices To Go, as well as produces, distributes, and markets Dasani water products. In addition, the company holds agreements to produce, distribute, and market Dr Pepper. Further, it distributes and markets various other products, such as Monster energy products and Sundrop; produces beverages for other Coca-Cola bottlers; and provides restaurants and other immediate consumption outlets with fountain products. Additionally, the company markets and distributes its own products, such as Tum-E Yummies, a vitamin-C enhanced flavored drink; and Fuel in a Bottle power. It sells and distributes its products directly to retail stores and other outlets, such as food markets, institutional accounts, and vending machine outlets. The company holds bottling rights from The Coca-Cola Company covering North Carolina, South Carolina, and West Virginia, as well as portions of Alabama, Mississippi, Tennessee, Kentucky, Virginia, Pennsylvania, Georgia, and Florida. Coca-Cola Bottling Co. Consolidated was founded in 1902 and is based in Charlotte, North Carolina.

5,000 Employees
Last Reported Date: 03/14/14
Founded in 1902

coca-cola bottling -cl b (COKEB) Top Compensated Officers

Chairman, Chief Executive Officer, Chairman o...
Total Annual Compensation: $903.7K
President, Chief Operating Officer, Director,...
Total Annual Compensation: $637.5K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $472.2K
Senior Vice President, Sales, Field Operation...
Total Annual Compensation: $407.5K
Compensation as of Fiscal Year 2013.

coca-cola bottling -cl b (COKEB) Key Developments

Coca-Cola Bottling Co. Consolidated Announces Agreement with The Coca-Cola Company to Expand Franchise Territory

Coca-Cola Bottling Co. Consolidated announced it has signed a definitive agreement with an affiliate of The Coca-Cola Company to expand the bottler’s franchise territory to include the Louisville, Kentucky and Evansville, Indiana territories currently served by Coca-Cola Refreshments USA Inc. This agreement represents an additional phase of the proposed franchise territory expansion described in the previously-announced Letter of Intent between the company and The Coca-Cola Company. The company expects the transaction to close by the end of February 2015. The company is continuing to work towards definitive agreements with The Coca-Cola Company for the remainder of the proposed franchise territory expansion described in the previously-announced Letter of Intent, including Paducah and Pikeville, KY. The definitive agreement and other agreements to be entered into at closing will provide the company the exclusive rights to distribute beverage brands owned by The Coca-Cola Company as well as certain other beverage brands not owned by The Coca-Cola Company that are currently being distributed in the Louisville and Evansville territories by CCR. The transaction includes the purchase by the company of distribution assets and certain working capital items from CCR relating to these territories and the purchase of exclusive rights to distribute certain non-Coca-Cola beverage brands in these territories. The transaction also includes the grant by CCR to the company of exclusive rights to distribute beverage brands owned by The Coca-Cola Company in these territories under a comprehensive beverage agreement to be entered into at closing. Under such agreement, the company will make a quarterly sub-bottling payment to CCR on a continuing basis after the closing for the grant of such exclusive rights.

Coca-Cola Bottling Co. Consolidated Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months of 2014

Coca-Cola Bottling Co. Consolidated reported unaudited consolidated earnings results for the third quarter and nine months of 2014. For the quarter, net sales were $457.7 million against $434.5 million last year. Income from operations was $28.4 million against $30.2 million last year. Income before income taxes was $21.1 million against $22.8 million last year. Net income attributable to Coca-Cola Bottling Co. Consolidated was $12.1 million against $16.2 million last year. Diluted net income per share based on net income attributable to Coca-Cola Bottling Co. Consolidated common stock and class B common stock was $1.30 against $1.74 last year. Excluding net sales in the additional franchise territory the company acquired in late May 2014, net sales for the third quarter of 2014 were $445.9 million. The results for the third quarter of 2014 included $1.6 million of expenses ($2.6 million on a pre-tax basis) related to franchise territory expansion, $0.2 million of after-tax losses ($0.3 million on a pre-tax basis) due to mark-to-market adjustments on commodity hedges, $0.6 million of after-tax gains related to changes in reserves for uncertain tax positions due to lapse of statute of limitations, and $0.4 million of after-tax losses due to other income tax changes. For the nine months, net sales were $1,305.7 million against $1,247 million last year. Income from operations was $71.8 million against $72.6 million last year. Income before income taxes was $49.9 million against $50.4 million last year. Net income attributable to Coca-Cola Bottling Co. Consolidated was $28.4 million against $32.3 million last year. Diluted net income per share based on net income attributable to Coca-Cola Bottling Co. Consolidated common stock was $3.05 and class B common stock was $3.04 against $3.47 per diluted common stock and $3.46 per class B common stock last year.

Coca-Cola Bottling Co. Consolidated Enters into $350 Million Five Year Unsecured Amended and Restated Revolving Credit Agreement with JPMorgan Chase Bank, N.A

On October 16, 2014, Coca-Cola Bottling Co. Consolidated entered into a $350 million five-year unsecured amended and restated revolving credit agreement with the lenders named therein, JPMorgan Chase Bank, N.A., as issuing lender and administrative agent, Citibank, N.A. and Wells Fargo Bank, National Association, as co-syndication agents, and Branch Banking and Trust Company, as documentation agent. Subject to obtaining commitments from the lenders and satisfying other conditions specified in the Credit Agreement, the Company may increase the aggregate availability under the facility to $450 million. The Credit Agreement amends and restates the company's existing $200 million five-year unsecured revolving credit agreement, dated as of September 21, 2011 by and among the company, the lenders named therein, JPMorgan Chase Bank, N.A., as administrative agent, Citibank, N.A., as syndication agent, and Branch Banking and Trust Company, Rabobank Nederland New York Branch and Wells Fargo Bank, National Association, as co-documentation agents, which had a scheduled maturity date of September 11, 2016. The Credit Agreement has a scheduled maturity date of October 16, 2019. Borrowings under the Credit Agreement will bear interest, at the Company's option, calculated according to a base rate or a Eurodollar rate, as the case may be, plus an applicable margin. Depending on the Company's credit ratings at the time of the borrowing, the applicable margin on a base rate borrowing ranges from 0.000% to 0.300% and the applicable margin on a Eurodollar borrowing ranges from 0.800% to 1.300%. At the company's current credit ratings, the applicable margin would be 0.000% for a base rate borrowing and 0.975% for a Eurodollar borrowing. In addition, the Company must pay a facility fee on the lenders' aggregate commitments under the Credit Agreement ranging from 0.075% to 0.200% per annum, depending on the Company's credit ratings. At the company's current credit ratings, the facility fee is 0.150% of the aggregate commitments of the lenders.

 

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COKEB

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Valuation COKEB Industry Range
Price/Earnings 33.9x
Price/Sales 0.5x
Price/Book 3.7x
Price/Cash Flow 33.8x
TEV/Sales 0.1x
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