Coca-Cola Enterprises, Inc. (CCE) Tops Q3 EPS by 3c, Guides FY
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Coca-Cola Enterprises, Inc. (NYSE: CCE) reported Q3 EPS of $0.71, $0.03 better than the analyst estimate of $0.68. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.07 billion.
Coca-Cola Enterprises, Inc. sees FY2012 EPS of $2.20-2.24, versus the consensus of $2.24.
Outlook:
For 2012, CCE now expects comparable earnings per diluted share in a range of $2.20 to $2.24, including the negative impact of currency translation. Based on recent rates, currency translation would decrease comparable full-year earnings per diluted share approximately 8 percent relative to prior year.
Both net sales and operating income for 2012 are now expected to grow in a low to mid-single-digit range. This revision is primarily driven by customer and marketplace conditions in France due in part to the French excise tax increase, an increased competitive landscape in Great Britain, and the impact of ongoing challenging macroeconomic conditions. Our outlook for earnings per diluted share, net sales, and operating income includes the impact of the French excise tax increase and is comparable. Net sales and operating income guidance is also currency neutral.
Based on recent currency rates, the company continues to expect 2012 free cash flow in a range of $475 million to $500 million, with capital expenditures in a range of $375 million to $400 million. Weighted average cost of debt is expected to be approximately 3 percent and the effective tax rate for 2012 is expected to be in a range of 26 percent to 28 percent.
For earnings history and earnings-related data on Coca-Cola Enterprises, Inc. (CCE) click here.
Coca-Cola Enterprises, Inc. sees FY2012 EPS of $2.20-2.24, versus the consensus of $2.24.
Outlook:
For 2012, CCE now expects comparable earnings per diluted share in a range of $2.20 to $2.24, including the negative impact of currency translation. Based on recent rates, currency translation would decrease comparable full-year earnings per diluted share approximately 8 percent relative to prior year.
Both net sales and operating income for 2012 are now expected to grow in a low to mid-single-digit range. This revision is primarily driven by customer and marketplace conditions in France due in part to the French excise tax increase, an increased competitive landscape in Great Britain, and the impact of ongoing challenging macroeconomic conditions. Our outlook for earnings per diluted share, net sales, and operating income includes the impact of the French excise tax increase and is comparable. Net sales and operating income guidance is also currency neutral.
Based on recent currency rates, the company continues to expect 2012 free cash flow in a range of $475 million to $500 million, with capital expenditures in a range of $375 million to $400 million. Weighted average cost of debt is expected to be approximately 3 percent and the effective tax rate for 2012 is expected to be in a range of 26 percent to 28 percent.
For earnings history and earnings-related data on Coca-Cola Enterprises, Inc. (CCE) click here.
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