Third-quarter earnings dipped for Charlotte-based Coca-Cola Bottling Consolidated, with the bottler saying its results reflected “significant costs” related to the acquisition of new franchise territory.
Coca-Cola Bottling Tuesday said it earned $12.1 million, or $1.31 per share, during the third quarter of 2014, compared with $16.2 million, or $1.75 per share, during the same quarter in 2013.
For the first nine months of the year, the company earned $28.4 million on net sales of $1.31 billion, compared to $32.3 million on net sales of $1.25 billion during the same time period last year.
In May, the company signed an agreement to expand into Morristown and Johnson City, Tenn. The Charlotte-based bottler is the nation’s largest independent Coca-Cola bottler, with 6,500 employees in 11 states.