Molson Coors Brewing (TAP) Tops Q4 EPS by 8c, offers outlook

Molson Coors Brewing (NYSE: TAP) reported Q4 EPS of $1.19, $0.08 better than the analyst estimate of $1.11. Revenue for the quarter came in at $2.79 billion versus the consensus estimate of $2.78 billion.

2024 OUTLOOK

Building off of the growth we achieved in 2023, we expect to achieve the following targets for full year 2024:

Net sales: low single-digit increase versus 2023 on a constant currency basis.

Underlying income (loss) before income taxes: mid single-digit increase compared to 2023 on a constant currency basis.

Underlying earnings per share: mid single-digit increase compared to 2023.

Capital Expenditures: $750 million incurred, plus or minus 5%.

Underlying free cash flow: $1.2 billion, plus or minus 10%.

Underlying depreciation and amortization: $700 million, plus or minus 5%.

Consolidated net interest expense: $210 million, plus or minus 5%.

Underlying effective tax rate: in the range of 23% to 25% for 2024.

For earnings history and earnings-related data on Molson Coors Brewing (TAP) click here.

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