Molson Coors Brewing (TAP) Tops Q4 EPS by 24c

Molson Coors Brewing (NYSE: TAP) reported Q4 EPS of $1.02, $0.24 better than the analyst estimate of $0.78. Revenue for the quarter came in at $2.49 billion versus the consensus estimate of $2.48 billion.

• 4th Quarter (4th Q) Worldwide Brand Volume Decreased 1.0%
• 4th Q Net Sales Revenue Increased 2.8% Reported and 3.0% in Constant Currency
• 4th Q Net Income of $164 Million ($0.75 Per Share) Increased 115.4%, and 4th Q Underlying (Non-GAAP) EPS of $1.02 Increased 21.4%
• 4th Q Underlying EBITDA of $563 Million Increased 15.8% in Constant Currency

"Full year 2019 was a challenging year for Molson Coors Beverage Company. However, despite significant headwinds and continued volume declines, we grew NSR/HL and improved our mix, delivered strong free cash flow and cost savings, reduced our debt, and started making progress toward premiumizing and modernizing our portfolio."

Gavin continued, "We know we have a lot of work still to do. That’s why last quarter we announced a plan to get Molson Coors back to consistent topline growth. The plan is designed to streamline the company, allow us to move faster, and free up resources to invest in our brands and capabilities. As promised in October, we’ve wasted no time in implementing the plan."

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

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