The country's largest Coke bottler this week reported financial results for its fourth-quarter and fiscal year 2021, ended Dec. 31. Coca-Cola Consolidated physical case volume decreased 1.7% in the fourth quarter of 2021. On a comparable selling day basis, physical case volume increased 3.6%, which included sparkling and still category volume growth of 2.8% and 5.5%, respectively.
The strong growth in still beverages was driven primarily by Body Armor, Smart Water and Monster. Sparkling volume growth related to continued strong demand for multi-serve can packages sold in larger retail stores.
Charlotte, NC-based Coca-Cola Consolidated's net sales increased 10% to $1.40 billion in the fourth quarter of 2021. The increase in net sales was driven by strong volume growth and pricing actions taken during 2021. Price increases were taken to offset inflation on our major cost inputs, including aluminum, PET resin and transportation costs. Net sales increased 11% to $5.56 billion in fiscal year 2021.
Key points
- Fourth quarter of 2021 net sales increased 10% versus the fourth quarter of 2020. The fourth quarter of 2020 included four additional selling days, compared with the fourth quarter of 2021. On a comparable basis, net sales increased.
- Net sales for fiscal year 2021 were $5.6 billion, up 11% versus fiscal year 2020. Fiscal year 2020 included three additional selling days compared to fiscal year 2021. On an adjusted basis, net sales for the full year increased 12%.
- Income from operations for fiscal year 2021 was $439 million, up $126 million, or 40%, versus fiscal year 2020. On an adjusted basis income from operations increased $133 million, or 43%.
