S&P 500 (NYSE:SPY) component Coca-Cola Enterprises Inc. (NYSE:CCE) reported its results for the first quarter. Coca-Cola Enterprises Inc. produces and distributes soft drinks to customers in the U.S, Canada and certain Caribbean islands. Biggest Secret Revealed>>
Coca-Cola Earnings Cheat Sheet for the First Quarter
Results: Net income for the Coca-Cola Enterprises Inc. fell to $106 million (31 cents/diluted share) from $120 million the year earlier quarter.
Revenue: Rose to $1.84 billion YoY.
Actual vs. Wall St. Expectations: CCE fell short of the mean analyst estimate of 33 cents/share. Estimates ranged from 31 cents per share to 36 cents per share.
Quoting Management: “These results reflect solid progress toward our 2011 financial goals, goals that will meet or exceed our long-term financial targets,” said John F. Brock, chairman and chief executive officer. “With the important summer selling season just ahead, we believe we have the right brand and operating plans in place to deliver against our growth objectives.”
Competitors to Watch: The Coca-Cola Company (NYSE:KO), PepsiCo, Inc. (NYSE:PEP), Dr Pepper Snapple Group Inc. (NYSE:DPS), Hansen Natural Corporation (NASDAQ:HANS), Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE), Heckmann Corporation (NYSE:HEK), Coca-Cola HBC S.A. (NYSE:CCH), Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF), and Fomento Economico Mexicano SAB (NYSE:FMX).
Today’s Performance: Shares of CCE closed at $28.46 as of April 28, 2011 at 4:00 PM ET, down 5 cents from the previous closing price of $28.51.