Coca-Cola Enterprises said it could see its operating income next year rise in a mid- to high-single digit range, helped by mid-single digit growth in Europe and North America. On top of that, its earnings per diluted share will rise at a high-single digit rate. Right now, the company forecasts that currency rates will come in at the tail end of the company's transactions, which could add about 4 cents of "EPS favorability."
Coca-Cola Enterprises also announced a share repurchase program that would add up to about $600 million by the end of 2010. These days, the company pays an annual dividend of 32 cents per common share.
Coca-Cola Enterprises says it has been especially pleased with its "remarkable results" in Europe through 2009 and will "build on those results and seize new growth opportunities."The weak U.S. economy, however, hasn't been as good to Coca-Cola Enterprises. "However, we remain closely aligned with The Coca-Cola Co. in addressing North America's marketplace challenges...we are united in our approach and remain optimistic about the opportunity to return North America to balanced top-line growth," says Brock.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV