Coca-Cola Enterprises Q4 Profit Rises; Backs 2014 Outlook - Quick Facts

(RTTNews) - Coca-Cola Enterprises, Inc. (CCE) reported fourth-quarter net income of $135 million or $0.51 per share, higher than $100 million or $0.34 per share in the prior-year quarter.

Excluding charges, comparable earnings for the quarter was $142 million or $0.54 per share, compared to $131 million or $0.45 per share in the year-ago quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.52 per share for the quarter. Analysts' estimates typically exclude one-time items.

Total net sales for the quarter grew 6 percent to $2.03 billion from $1.92 billion in the same quarter last year. Ten Wall Street analysts had a consensus revenue estimate of $2.03 billion for the quarter. Sales grew 3.5 percent on a currency neutral basis.

Volume grew 2.5 percent, driven primarily by growth in Coca-Cola trademark brands, including 20 percent growth for Coca-Cola Zero, and growth in energy.

Looking ahead to fiscal 2014, CCE affirmed its expectation for comparable and currency neutral earnings per share growth of about 10 percent, on projected net sales growth in a low single-digit range.

Street is currently looking for full-year 2014 earnings of $2.84 per share on annual sales growth of 5.4 percent to $8.66 billion.