Molson Coors Brewing Earnings: Everything You Must Know Now
Molson Coors Brewing Company (NYSE:TAP) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Molson Coors Brewing Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 36.17% to $0.3 in the quarter versus EPS of $0.47 in the year-earlier quarter.
Revenue: Rose 19.83% to $828.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Molson Coors Brewing Company reported adjusted EPS income of $0.3 per share. By that measure, the company missed the mean analyst estimate of $0.34. It missed the average revenue estimate of $854.16 million.
Quoting Management: Molson Coors president and chief executive officer Peter Swinburn said, “Our first quarter numbers include the effect of the Central Europe acquisition that we completed in the middle of last year. Because of this addition, we recorded volume and sales increases but a post-tax income decline. The decline was driven by Central Europe debt servicing costs being allocated against our lowest earnings quarter of the year in that region, along with foreign exchange losses and increased marketing spend across the rest of the business. Weather affected volumes in all our markets. Against this backdrop, we grew share in Europe, saw relatively flat share in the U.S., and lost share in Canada. Our innovation programs got off to a fast start and reflect a pipeline that is both full and exciting.”
Key Stats (on next page)…