Molson Coors Brewing (TAP) Tops Q2 EPS by 24c ; Provides Outlook

Molson Coors Brewing (NYSE: TAP) reported Q2 EPS of $1.92, $0.24 better than the analyst estimate of $1.68. Revenue for the quarter came in at $3.25 billion versus the consensus estimate of $3.19 billion.

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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