Coca-Cola Enterprises Q4 Profit Drops - Quick Facts

(RTTNews) - Coca-Cola Enterprises, Inc. (CCE) posted lower fourth-quarter 2014 net income of $112 million, or $0.46 per share, compared with $135 million, or $0.51 per share, last year. Reported earnings per share for the fourth quarter were 46 cents, or 58 cents on a comparable basis. Currency translation had a negative impact of about 5 cents on fourth-quarter comparable earnings per share. On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly net sales reached $1.93 billion, down 51/2 percent on a reported basis, or up 11/2 percent on a currency-neutral basis. Reported operating income totaled $195 million, a decline of 10 percent. For the fourth quarter, volume grew 2 percent, chiefly driven by growth in Coca-Cola trademark brands, including 9 percent growth for Coca-Cola Zero and introductory volume for Coca-Cola Life. Sparkling flavors rose 1 percent, with growth of 11 percent for our energy portfolio. Still beverages grew 71/2 percent, with juices up 4 percent and water up 121/2 percent in the quarter. Fourth-quarter volume in Great Britain grew 6 percent, and continental European volume declined 1 percent.

Looking ahead, CCE sees 2015 earnings per share to grow in a range of 6 percent to 8 percent on a comparable and currency-neutral basis. Though it is too early to predict the impact, based on recent exchange rates, currency translation would negatively impact full-year earnings per share by some 16 percent. Net sales and operating income are likely to be slightly positive on a comparable and currency-neutral basis.