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Coca-Cola Enterprises Inc. (NYSE:CCE) reported its results for the fourth quarter. Net income for Coca-Cola Enterprises Inc. rose to $113 million (36 cents per share) vs. $97 million (28 cents per share) in the same quarter a year earlier. This marks a rise of 16.5% from the year earlier quarter. Revenue rose 5.5% to $1.89 billion from the year earlier quarter. Coca-Cola Enterprises Inc. fell in line with the mean analyst estimate of 36 cents per share. Analysts were expecting revenue of $1.9 billion.
“2011 marks the sixth consecutive year of volume and profit growth in our legacy territories,” said John F. Brock, chairman and chief executive officer. “While we continue to face ongoing marketplace and macroeconomic challenges, the results from our first full year of operating exclusively as a European bottler reinforce the confidence we have in the long-term potential of today’s Coca-Cola Enterprises.
Competitors to Watch: The Coca-Cola Company (NYSE:KO), PepsiCo, Inc. (NYSE:PEP), Dr Pepper Snapple Group Inc. (NYSE:DPS), Hansen Natural Corporation (NASDAQ:HANS), Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE), Heckmann Corporation (NYSE:HEK), Coca-Cola HBC S.A. (NYSE:CCH), Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF), and Fomento Economico Mexicano SAB (NYSE:FMX).
Bunge Limited (NYSE:BG) in the fourth quarter as profit dropped from a year earlier. Net income for Bunge Limited fell to $254 million ($1.65 per share) vs. $301 million ($1.95 per share) a year earlier. This is a decline of 15.6% from the year earlier quarter. Revenue rose 29.2% to $16.45 billion from the year earlier quarter. Bunge Limited was about in line with expectations as the mean analyst estimate of $1.64 per share. It beat the average revenue estimate of $13.73 billion.
Alberto Weisser, Bunge’s Chairman and Chief Executive Officer stated, “In 2011 Bunge produced strong results in many parts of our business, but faced significant headwinds in others. On a combined basis, our agribusiness, edible oils and milling segments generated record full-year results of over $1.1 billion. However, reduced sugarcane production yields in Brazil due to back-to-back years of poor weather had a material impact on volumes in our sugar & bioenergy segment.”
Competitors to Watch: Archer Daniels Midland Co. (NYSE:ADM), Corn Products Intl., Inc. (NYSE:CPO), MGP Ingredients, Inc. (NASDAQ:MGPI), CHS Inc. (NASDAQ:CHSCP), Westway Group, Inc. (NASDAQ:WWAY), SunOpta, Inc. (NASDAQ:STKL), Darling International Inc. (NYSE:DAR), AgFeed Industries, Inc. (NASDAQ:FEED), and The Mosaic Company (NYSE:MOS).
To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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