Molson Coors Brewing CompanyTAP - one of the largest global brewer - manufactures and sells beer and other beverage products. The company has an impressive portfolio of more than 65 leading beer brands, operating in more than 30 countries.
Molson Coors has struggled hard in the past one year owing to weak consumer demand in the face of macro-economic headwinds. The company has also been posting declining sales volume in its major markets - Canada, the U.S. and Europe - since the past many quarters. Nevertheless, the company has been launching new products, focusing to enhance the above-premium category of beers, spending on marketing and advertising to increase brand awareness, which might bring profit to its investors. Due to this, investors are eagerly awaiting Molson Coors' earnings report.
Investors should also note the recent earnings estimate revisions for TAP, as the consensus estimate has been moving downwards in the last 30 days. However, TAP's earnings season was quite a decent one. TAP has delivered positive surprise in three of the last four quarters, with negative surprise in one, making for an average positive surprise of 8.80%.
Currently, TAP has a Zacks Rank #3 (Hold), but that could definitely change following Molson Coors' earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: TAP posted earnings of $1.11 per share, missing our consensus of $1.13. Investors should note that these figures take out stock option expenses.
Revenue: TAP posted revenues of $986.2 million. This beat our consensus estimate of $942 million.
Key Stats to Note: Sales declined 1.9% in the quarter and improved 1.9% on a constant currency basis. Molson Coors' worldwide beer volume declined 0.8% to 16.1 million hectoliters.
Stock Price: Inactive in pre-market trading .
Check back later for our full write up on this TAP earnings report later!
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