Molson Coors Brewing (TAP) Tops Q4 EPS

Molson Coors Brewing (NYSE: TAP) reported Q4 EPS of $1.30, $0.23 better than the analyst estimate of $1.07. Revenue for the quarter came in at $2.63 billion versus the consensus estimate of $2.64 billion.

GUIDANCE:

We expect to achieve the following targets for full year 2023 despite the inherent uncertainties that exist with a softer beer industry and the impacts of continued global inflationary cost pressures:

• Net sales: low single-digit increase versus 2022 on a constant currency basis.
• Underlying income (loss) before income taxes: low single-digit increase compared to 2022 on a constant currency basis.
• Capital Expenditures: $700 million incurred, plus or minus 5%
• Underlying free cash flow: $1.0 billion, plus or minus 10%.
• Underlying depreciation and amortization: $690 million, plus or minus 5%.
• Consolidated net interest expense: $240 million, plus or minus 5%.
• Underlying effective tax rate: in the range of 21% to 23% for 2023.

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

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