Coca-Cola Enterprises Inc. (NYSE:CCE) may be hoping for a free refill after its second quarter results.
The European bottler said its outlook for the rest of the year will be revised after the weaker-than-expected Q2 results are released next month.
“Throughout 2012 and so far this year, we have faced challenging operating conditions, including persistent underlying macroeconomic weakness, significant headwinds from poor weather, the prolonged impact of a sharp excise tax increase in France, and a dynamic competitive environment in Great Britain,’ Chief Executive John F. Brock said in a statement.
A spinoff of Coca-Cola Co. (NYSE:KO), Coca-Cola Enterprises, has been struggling in the throes of Europe’s economic woes in recent years.
Coca-Cola isn’t the only corporate giant mired in paltry second-quarter results.
Of the 116 S&P 500 companies to release preannouncements for their Q2 figures, 93 have negative outlooks. The health care and discount retail sectors were hit the hardest.
Shares in Coca-Cola Enterprises were down more than 3 percent to $35.96.