Coca-Cola Enterprises Inc. (NYSE:CCE) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.31%.
Coca-Cola Enterprises Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 5.48% to $0.77 in the quarter versus EPS of $0.73 in the year-earlier quarter.
Revenue: Decreased 2.36% to $2.16 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Coca-Cola Enterprises Inc. reported adjusted EPS income of $0.77 per share. By that measure, the company beat the mean analyst estimate of $0.76. It missed the average revenue estimate of $2.22 billion.
Quoting Management: “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.
Key Stats (on next page)…