Coca-Cola Enterprises says evaluating high return investment opportunities Says evaluating high return investment opportunities including M&A. Says remains committed to preserving expanding margins over time, says taking a more modest approach to pricing in 2013. Sees operating income growth weighted to back half of the year. Comments made on the Q4 earnings conference call.
News For CCE From The Last 14 Days
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Coca-Cola Enterprises sees FY free cash flow at top end of prior guidance Says commodities have continued to pull back "somewhat" since beginning of the year. Sees overall cost of sales per case to increase approx. 1.5%. Sees operating income growth back half weighted. Says on track to deliver FY guidance. Says committed to share repurchases of $800M by the end of the year. Says overall economic conditions remain "difficult." Comments made on the Q1 earnings conference call.
Coca-Cola Enterprises sees FY14 EPS growth approximately 10%, consensus $2.89 For 2014, CCE continues to expect earnings per diluted share to grow approximately 10 percent on a comparable and currency neutral basis. Based on recent rates, currency translation would benefit full-year 2014 earnings per share by just over 5 percent. Net sales are expected to grow in a low single-digit range and operating income is expected to grow in a mid-single-digit range. This outlook is comparable and currency neutral. The company now expects 2014 free cash flow of approximately $650 million. Capital expenditures are expected to be approximately $350 million. Weighted average cost of debt is expected to be approximately 3 percent and the comparable effective tax rate for 2014 is expected to be in a range of 26 percent to 28 percent.