CHARLOTTE, N.C. (AP) Coca-Cola Bottling Co. reported a third-quarter profit of $25.2 million, with earnings, adjusted for non-recurring costs, coming in at $2.93 per share.The Coca-Cola bottler also posted total revenue of $1.21 billion in the period.
Coca-Cola Company, not to be confused with Coca-Cola Bottling, saw higher-than-expected volumes, but weaker pricing during the same period. The company blamed the need for increased promotions stemming from competitive pressures from bottled water in Europe as impacting profits. The company is also reportedly seeking merger and acquisition targets in the water and juice sectors.
Coca-Cola Bottling shares have fallen 16 percent since the beginning of the year and declined 20 percent in the last 12 months.