Coca-Cola Enterprises Issues 2014 Outlook, 2015 Guidance

Coca-Cola Enterprises Inc (NYSE: CCE) updated investors on its business on Thursday, including its 2014 outlook and 2015 guidance.

2014 Outlook

• Company expects comparable and currency-neutral earnings per diluted share growth of approximately 10 percent.
• Net sales expected to be flat compared to a year ago.
• Operating income expected to grow in a low single-digit range.
• Free cash flow expected to be approximately $650 million.
• Capital expenditures expected to be less than $325 million.
• Company expects to repurchase $925 million worth of shares.
• Company approved a new $1 billion share buyback authorization program.

2015 Guidance

• Earnings per diluted share expected to grow 6 percent to 8 percent.
• Both net sales and operating income expected to be slightly positive on a comparable and currency-neutral basis.
• Cash flow expected to be in a range of $650 million to $700 million.
• Capital expenditures expected to be in a range of $325 million to $350 million.
• Company expects to repurchase at least $600 million worth of shares.

The company has scheduled a conference call to discuss its outlook and can be accessed through its website.