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Coca-Cola European Partners profit misses consensus by 24.3% in fiscal Q3

Coca-Cola European Partners PLC said its normalized net income for the fiscal third quarter ended Sept. 29 was 51 euro cents per share, compared with the S&P Capital IQ consensus estimate of 68 cents per share.

EPS climbed 5.0% year over year from 49 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €252.5 million, an increase of 5.5% from €239.4 million in the prior-year period.

The normalized profit margin increased to 8.5% from 8.0% in the year-earlier period.

Total revenue came to €2.96 billion, compared with €2.99 billion in the prior-year period, and total operating expenses fell on an annual basis to €2.53 billion from €2.57 billion.

Reported net income decreased 7.0% on an annual basis to €304.0 million, or 62 cents per share, from €327.0 million, or 67 cents per share.