Coca-Cola Enterprises Q1 Profit Rises; Affirms 2014 Guidance

(RTTNews) - Coca-Cola Enterprises, Inc. CCE) reported that its first-quarter net income increased to $115 million or $0.44 per share, from $61 million or $0.21 per share, previous year. Earnings per share were $0.46 on a comparable basis.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.44 for the quarter. Analysts' estimates typically exclude special items.

Net sales rose to $1.87 billion from $1.85 billion. Analysts expected revenue of $1.93 billion for the quarter. On a currency neutral basis, net sales declined 21/2 percent.

For 2014, the company continues to expect earnings per 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.