S&P 500 (NYSE:SPY) component Coca-Cola Enterprises Inc. (NYSE:CCE) posted an increase in profit for the second quarter. Coca-Cola Enterprises Inc. produces and distributes soft drinks to customers in the U.S, Canada and certain Caribbean islands.
Coca-Cola Earnings Cheat Sheet for the Second Quarter
Results: Net income for the soft drink company rose to $246 million (74 cents per share) vs. $199 million a year earlier. This is a decline of 30.9% from the year earlier quarter.
Revenue: Rose to $2.41 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: CCE reported adjusted net income of 76 cents per share. By that measure, it beat the mean analyst estimate of 74 cents per share. It beat the average revenue estimate of $2.31 billion.
Quoting Management: “A combination of solid execution with volume and pricing growth, coupled with strong response to our brands and products from our consumers and our customers, helped drive excellent second-quarter results,” said John F. Brock, chairman and chief executive officer. “This performance demonstrates both the growth potential of the Western European markets we serve and the positive impact of our operating strategies and initiatives. “We continue to seize opportunities for profitable growth by focusing on building our brands, enhancing our customer service, and maximizing the efficiency of our operations,” Mr. Brock said.
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).
(Source: Xignite Financials)