Soft drink bottler Coca-Cola Enterprises Inc. (CCE) said Tuesday after the markets closed that third quarter business trends are slightly favorable and that it expects full year 2009 earnings to be at the higher end of its existing guidance range of $1.44 to $1.49 per share.
The guidance excludes one-time, nonrecurring items and includes an estimated $0.15 per share negative impact from currency translation based on recent rates.
Analysts polled by Thomson Reuters currently expect the company to earn $1.52 per share for the full year 2009. Analysts' estimates typically exclude special items.
In July, Coca-Cola Enterprises has raised its full year 2009 earnings guidance to a range of $1.44 to $1.49 per share from its earlier guidance of $1.24 to $1.29 per share.
Coca-Cola Enterprises sells about 80% of The Coca-Cola Co.'s (KO) bottle and can volume in North America and is the sole licensed bottler for products of The Coca-Cola Co. in Belgium, continental France, Great Britain, Luxembourg, Monaco, and the Netherlands.
Coca-Cola Enterprises shares closed Tuesday's regular trading session at $20.50, up 18 cents.
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