Coca-Cola Enterprises Sees 2001 Earnings Shortfall - TheStreet

Coca-Cola Enterprises

(CCE)

said that its full-year 2000 earnings would come in at 50 cents a share, in line with the

First Call/Thomson Financial

estimate.

It's too bad that 2001 will be something of an earnings odyssey.

The company said that 2001 earnings would come in at 60 cents, which is less than the consensus estimate of 68 cents. The cola bottler said that currency weakness was a prime factor in next year's expected miss, with growth coming in between 6% to 7%, instead of the long-term company objective of 8% to 10%.

The company also said fourth-quarter bottle and can volume would increase, even though North American sales lagged behind the rest of the world due to softness in Canadian sales. Coca-Cola Enterprises said that volume in Europe would grow 4% to 5%, while volume in North America would be less than the company's estimates. Sales in the U.S. grew 1%.