(RTTNews) - Coca Cola Consolidated, Inc. (COKE) reported fourth quarter net income of $178.95 million or 20.46 per share, up from $75.84 million or $8.08 per share in the fourth quarter of 2023. Net income for the fourth quarter of 2024 benefited from routine, non-cash fair value adjustments to acquisition related contingent consideration liability, driven primarily by an increase to the discount rate used to compute the fair value of the liability.
On an adjusted basis, net income in the fourth quarter of 2024 was $156.7 million, compared to $125.5 million in the fourth quarter of 2023, an increase of $31.1 million.
Net sales increased 7.1% to $1.7 billion in the fourth quarter of 2024.
Volume was up 1.3% in the fourth quarter of 2024. On a comparable basis, volume decreased 0.9% as compared to the fourth quarter of 2023.
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