Molson Coors (TAP) Beats Q1 Earnings & Revenues

Molson Coors Brewing Company ((TAP – Analyst Report)) – 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.

Like most of the consumer staple companies, 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. Though 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, there has been no consistent improvement in volumes. 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 lower. Moreover, TAP has a mixed history in earnings season. TAP has delivered positive surprise in two of the last four quarters, with negative surprise in the other two, making for an average positive surprise of 11.40%.

Currently, TAP has a Zacks Rank #4 (Sell), 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 46 cents, better than our consensus of 43 cents. Investors should note that these figures take out stock option expenses.

Revenue: TAP posted revenues of $700 million. This slightly beat our consensus estimate of $698 million.

Key Stats to Note: Molson Coors’ worldwide beer volume decreased 3.5% to 11.5 million hectoliters.

Stock Price: Inactive in pre-market trading.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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