Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Coca-Cola Enterprises Inc    

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

PepsiCo, Coke Enterprises beat Wall Street views

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/26/2012 | 05:03pm CEST

PepsiCo Inc (>> PepsiCo, Inc.) and Coca-Cola Enterprises (>> Coca-Cola Enterprises Inc) reported higher-than-expected quarterly profits, helped by price increases on sodas, and stood by their full-year forecasts.

PepsiCo Inc (>> PepsiCo, Inc.) and Coca-Cola Enterprises (>> Coca-Cola Enterprises Inc) reported higher-than-expected quarterly profits, helped by price increases on sodas, and stood by their full-year forecasts.

For PepsiCo, 2012 is a transition year as it ramps up marketing, cuts thousands of jobs and streamlines its portfolio to improve its performance, especially in its North American drink business.

"As the year progresses, quarter by quarter, you'll start seeing the business strengthen," PepsiCo Chief Executive Indra Nooyi said on a conference call on Thursday.

Though its results beat expectations, PepsiCo shares fell slightly in morning trading on the New York Stock Exchange, dropping 0.2 percent to $66.50.

"Expectations were low and sentiment is still fairly negative," said JP Morgan analyst John Faucher. "We don't think that most skeptics will be convinced yet."

PepsiCo, maker of Frito-Lay snacks, Quaker oatmeal and Tropicana orange juice, said results were in line with its own expectations in the quarter, during which commodity cost inflation was at the highest rate expected for the year.

The company said it made progress on a range of initiatives in the first quarter, including innovation and advertising.

It launched Pepsi Next, a mid-calorie cola that it said is performing better than expected. It also boosted spending on media advertising by 25 percent. Overall, marketing spending as a percentage of sales is expected to rise by half a percentage point to 5.7 percent this year.

Like most food and beverage companies, PepsiCo and Coke Enterprises raised prices to offset higher commodity costs. But those price increases can often hurt sales volume.

PepsiCo said net income was $1.13 billion, or 71 cents per share, in the first quarter, down slightly from $1.14 billion, or 71 cents a share, a year earlier.

Excluding items, earnings were 69 cents per share, in line with management's expectations, but 2 cents more than analysts' estimates, according to Thomson Reuters I/B/E/S.

Net revenue grew 4 percent to $12.43 billion, driven by price increases. Currency exchange rates reduced revenue growth by 1 percentage point.

Volume rose 2 percent in the company's Americas Foods unit as strength in Latin America offset declines at the North American units of Frito-Lay and Quaker Foods. The Americas Beverages unit's volume fell 1 percent.

PepsiCo stood by its 2012 outlook for earnings to drop 5 percent from $4.40 a share in 2011. It expects net revenue growth in the low single-digit percentage range this year.

Also on Thursday, Coke Enterprises reported first-quarter earnings of 36 cents per share, topping analysts' average estimate of 33 cents, according to Thomson Reuters I/B/E/S.

The company, which bottles Coca-Cola Co (>> The Coca-Cola Company) drinks in Europe, affirmed its full-year forecast for earnings per share to grow about 10 percent.

Coke Enterprises shares were down 0.3 percent at $29.05 in morning trading on the New York Stock Exchange.

(Editing by Lisa Von Ahn and Bernadette Baum)

By Martinne Geller

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on COCA-COLA ENTERPRISES INC
05/22 COCA COLA EUROPEAN PARTNERS : to Webcast Presentation at Deutsche Bank Global Co..
05/19 COCA-COLA EUROPEAN PARTNERS PLC : Post Earnings Coverage as Coca-Cola European P..
05/18 COCA-COLA EUROPEAN PARTNERS : ex-dividend day
05/04 COCA COLA EUROPEAN PARTNERS : Reports Interim Results for the First Quarter Ende..
05/04 COCA COLA EUROPEAN PARTNERS : Beverages Stocks Under Review -- Coca-Cola, Pepsic..
04/24 COCA COLA EUROPEAN PARTNERS : to Webcast Presentation to Goldman Sachs Global St..
04/12 COCA-COLA EUROPEAN PARTNERS PLC : Files Annual Report on Form 20-F
04/04 COCA COLA EUROPEAN PARTNERS : to Webcast First-Quarter 2017 Earnings Conference ..
03/31 COCA-COLA EUROPEAN PARTNERS PLC : Post Earnings Coverage as Coca-Cola European P..
03/27 COCA COLA EUROPEAN PARTNERS : Research Reports on Beverages Equities -- Coca-Col..
More news
Sector news : Carbonated Soft Drinks
05/16 COCA COLA : Mexico's Coca-Cola Femsa ditches plans to buy U.S. operations
05/10DJCOCA COLA : Shaking the 'New Coke Syndrome' -- WSJ
05/09DJCOKE'S NEW CEO JAMES QUINCEY TO STAF : Make Mistakes
05/06DJBERKSHIRE MEETING : An Anti-Capitalist at the 'Woodstock for Capitalists'
04/27DJBig Brands Feel Pain as Consumers Pull Back -- WSJ
More sector news : Carbonated Soft Drinks
News from SeekingAlpha
2016 Midday Gainers / Losers
2016 CONSUMER GOODS - TOP GAINERS / LOSER : 00 am
2016 PREMARKET GAINERS / LOSERS AS OF 9 : 10 am
2016 Evercore sees upside for Coca-Cola Enterprises
2016 Arthur J. Gallagher heads to S&P 500; AXL +4.6%, joining SmallCap 600
Advertisement
Financials (€)
Sales 2017 10 939 M
EBIT 2017 1 495 M
Net income 2017 926 M
Debt 2017 5 488 M
Yield 2017 2,28%
P/E ratio 2017 18,46
P/E ratio 2018 16,35
EV / Sales 2017 2,11x
EV / Sales 2018 2,08x
Capitalization 17 564 M
More Financials
Chart COCA-COLA ENTERPRISES INC
Duration : Period :
Coca-Cola Enterprises Inc Technical Analysis Chart | US19122T1097 | 4-Traders
Full-screen chart
Income Statement Evolution
More Financials
Consensus 
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 39,6 €
Spread / Average Target 10,0%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Damian Paul Gammell Chief Executive Officer & Director
Sol Daurella Comadrán Chairman
Manik H. Jhangiani Chief Financial Officer
Peter Brickley Chief Information Officer
Irial Finan Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
COCA-COLA ENTERPRISES ..-19.78%19 679
PEPSICO, INC.8.66%162 406
FOMENTO ECONOMICO MEXI..7.63%30 547
COCA-COLA EUROPEAN PAR..28.50%19 679
COCA-COLA BOTTLERS JAP..-1.60%6 111
COCA-COLA FEMSA, S.A.B..10.04%5 225
More Results