Coca-Cola Enterprises tops 4Q profit and revenue expectations
Coca-Cola Enterprises Inc. (CCE) on Thursday reported fourth-quarter earnings of $112 million.
The Atlanta-based company said it had profit of 46 cents per share. Earnings, adjusted for pretax expenses and restructuring costs, came to 58 cents per share.
The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The seller of Coca-Cola drinks in Europe posted revenue of $1.93 billion in the period, also surpassing Street forecasts. Analysts expected $1.92 billion, according to Zacks.
For the year, the company reported profit of $663 million, or $2.63 per share. Revenue was reported as $8.26 billion.
Coca-Cola Enterprises shares have dropped 2 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has dropped slightly more than 3 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CCE at http://www.zacks.com/ap/CCE
Keywords: Coca-Cola Enterprises, Earnings Report