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
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..
03/23 COCA COLA EUROPEAN PARTNERS : Becoming a great company
03/21 COCA COLA EUROPEAN PARTNERS : Reports Fourth-Quarter & Full-Year Results for the..
03/15 COCA COLA EUROPEAN PARTNERS : to Webcast Fourth-Quarter and Full-Year 2016 Earni..
03/07 COCA COLA EUROPEAN PARTNERS : Posts Statement Regarding U.S. Federal Income Tax ..
02/13 THE COCA-COLA COMPANY : Reports Fourth Quarter and Full Year 2016 Results
More news
Sector news : Carbonated Soft Drinks
04/21DJCoca-Cola Amatil Warns of 1st Half Profit Fall Amid Australia Struggles
04/19 U.S. SODA SALES DROPS FOR 12TH STRAI : trade publication
04/17DJSocial Media Outcries Leave Little Damage -- WSJ
04/15DJUnited, Pepsi Outcry Unlikely to Hurt Financial Results
04/11DJUnited Is the Latest Company to Fly Into a Social Media Storm
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 10 876 M
EBIT 2017 1 485 M
Net income 2017 894 M
Debt 2017 5 519 M
Yield 2017 2,36%
P/E ratio 2017 18,86
P/E ratio 2018 16,04
EV / Sales 2017 2,07x
EV / Sales 2018 2,03x
Capitalization 16 942 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 16
Average target price 38,4 €
Spread / Average Target 9,5%
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%18 408
PEPSICO, INC.9.26%163 277
FOMENTO ECONOMICO MEXI..8.41%30 928
COCA-COLA EUROPEAN PAR..21.34%18 408
COCA-COLA BOTTLERS JAP..-1.74%6 336
COCA-COLA FEMSA, S.A.B..4.77%5 059
More Results