Molson Coors Brewing (TAP) Tops Q1 EPS by 21c, reaffirms guidance

Molson Coors Brewing (NYSE: TAP) reported Q1 EPS of $0.95, $0.21 better than the analyst estimate of $0.74. Revenue for the quarter came in at $2.6 billion versus the consensus estimate of $2.5 billion.

Reaffirms 2024 Full Year Guidance for Top-Line and Bottom-Line Growth

2024 OUTLOOK

We continue to expect to achieve the following key financial 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 diluted 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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