Coca-Cola Enterprises, Inc. (CCE) Tops Q2 EPS by 1c; Guides In-Line
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Coca-Cola Enterprises, Inc. (NYSE: CCE) reported Q2 EPS of $0.77, $0.01 better than the analyst estimate of $0.76. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.22 billion.
"Our first half results were impacted by headwinds in the operating environment and marketplace that also have impacted our full-year outlook,” said John F. Brock, chairman and chief executive officer. “These factors include ongoing macroeconomic weakness, poor weather, continuing customer challenges from the impact of the French excise tax increase last year, and the competitive environment in Great Britain. Recent weather improvements and a solid summer program have helped restore growth in our business as we begin the third quarter, although much of the key summer selling season is still ahead of us,” Mr. Brock said.
“Our focus remains on our ultimate objective – delivering growth in shareowner value. To that end, and given the sustained impact of these issues in the operating environment, we continue to evaluate each element of our company to improve our growth outlook. We will also utilize all available business levers, including our solid free cash flow and strong balance sheet to continue returning cash to shareowners through our share repurchase program and dividends,” Mr. Brock said.
Coca-Cola Enterprises, Inc. sees FY2013 EPS of $2.45-$2.50, versus the consensus of $2.48. Affirms 2013 free cash flow guidance of $450 to $500 million.
For earnings history and earnings-related data on Coca-Cola Enterprises, Inc. (CCE) click here.
"Our first half results were impacted by headwinds in the operating environment and marketplace that also have impacted our full-year outlook,” said John F. Brock, chairman and chief executive officer. “These factors include ongoing macroeconomic weakness, poor weather, continuing customer challenges from the impact of the French excise tax increase last year, and the competitive environment in Great Britain. Recent weather improvements and a solid summer program have helped restore growth in our business as we begin the third quarter, although much of the key summer selling season is still ahead of us,” Mr. Brock said.
“Our focus remains on our ultimate objective – delivering growth in shareowner value. To that end, and given the sustained impact of these issues in the operating environment, we continue to evaluate each element of our company to improve our growth outlook. We will also utilize all available business levers, including our solid free cash flow and strong balance sheet to continue returning cash to shareowners through our share repurchase program and dividends,” Mr. Brock said.
Coca-Cola Enterprises, Inc. sees FY2013 EPS of $2.45-$2.50, versus the consensus of $2.48. Affirms 2013 free cash flow guidance of $450 to $500 million.
For earnings history and earnings-related data on Coca-Cola Enterprises, Inc. (CCE) click here.
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