Coca-Cola Enterprises (CCE) reaffirmed fiscal year 2011 EPS of $2.10-2.15 versus the $2.15 Capital IQ Consensus. This includes an expected currency benefit of approximately 15 cents based on recent rates.
Revenue is expected to grow in a mid single-digit range, with expected operating income growth in a mid single-digit to high single-digit range.
Full-year cost of goods sold is expected to increase approximately 3%. Gross margins are expected to be essentially flat for the year, though the company expects modest year-over-year margin decreases in the third quarter with year-over-year improvement in the fourth quarter. Operating margins are expected to be flat to up modestly for the full year.






