Coca-Cola Enterprises (CCE) Misses Q3 EPS by 5c; Affirms FY16 Outlook
Coca-Cola Enterprises (NYSE: CCE) reported Q3 EPS of EUR0.67, EUR0.05 worse than the analyst estimate of EUR0.72. Revenue for the quarter came in at EUR3 billion versus the consensus estimate of EUR3.22 billion.
CCEP affirms its full-year guidance for 2016, including flat revenue growth, modest mid-single-digit operating profit growth, and diluted earnings per share growth in a mid-teen range, all on a pro forma comparable and fx-neutral basis. After including an expected negative currency impact of approximately 4.5 per cent, pro forma comparable diluted earnings per share is expected in a range of €1.86 to €1.90.
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