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Coca-Cola European Partners (CCE) Tops Q1 Earnings Estimate

Zacks Equity Research
Updated

Coca-Cola European Partners Plc CCE, or CCEP, is the world’s largest independent Coca-Cola bottler based on revenue and serves over 300 million consumers across Western Europe, including Andorra, Belgium, continental France, Germany, Great Britain, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden.

Investors should also note that earnings estimates have moved downward for CCE in the last 60 days. Last quarter, the company posted earnings in line with our expectation. The company has surpassed estimates in two of the past four quarters with an average negative surprise of 2.11%.

Currently, CCE has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: CCE beat on earnings. The company reported EPS of 33 cents, beating the Zacks Consensus Estimate of at 31 cents.

Coca-Cola European Partners PLC Price and EPS Surprise

Coca-Cola European Partners PLC Price and EPS Surprise | Coca-Cola European Partners PLC Quote

Revenues: CCE reported net sales of $2.54 billion, beating our consensus estimate of $2.52 billion.

Key Stats to Note: Volumes increased 0.5% year over year on a comparable basis in the quarter. Notably, CCEP affirmed prior guidance of modest low single-digit revenue growth and high single-digits diluted earnings per share growth on a comparable and fx-neutral basis, for 2017.

Stock Price Movement: Shares were up 0.8% in the pre-market trading session at the time of writing.

Check back later for our full write up on this CCE earnings report later!

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Coca-Cola European Partners PLC (CCE): Free Stock Analysis Report
 
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Zacks Investment Research