Coca-Cola earnings to disappoint
fall belowexpectations and could be further weakened by the weak
European currency,...
Coca-Cola on Thursday said earnings for fiscal 2001 are likely to fall belowexpectations and could be further weakened by the weak European currency, theFinancial Times reports. The company said it expects diluted earnings pershare of 60 cents for 2001, substantially below the 68 cents-per-shareconsensus estimate of analysts polled by First Call/Thomson Financial. Ifexchange rates remain as they are, earnings could fall another 1 or 2 cents,the company said. For this year, fiscal 2000, the group is expecting earningsof 50 cents, which is comparable to analysts' expectations. Coca-Cola statedthat it was optimistic that growth trends would strengthen in 2001 as thecompany rolled out improved marketing programs, new brands and packages andprice increases.
