Shares of Molson Coors Beverage (NYSE:TAP) rose 0.1% in pre-market trading after the company reported Q1 results.
Quarterly Results
Earnings per share were down 97.14% over the past year to $0.01, which beat the estimate of ($0.09).
Revenue of $1,898,000,000 declined by 9.75% from the same period last year, which beat the estimate of $1,880,000,000.
Guidance
Molson Coors reaffirmed guidance for 2021.
Conference Call Details
Date: Apr 29, 2021
Time: 11:00 AM
Recent Stock Performance
Company’s 52-week high was at $56.10
Company’s 52-week low was at $32.11
Price action over last quarter: Up 17.96%
Company Description
Molson Coors is the fifth- largest beer producer globally, boasting top-two positioning in the U.S., Canada, and many Central European markets. It brews and markets a slew of company-owned brands including Blue Moon, Coors, Miller, Vizzy, and Staropramen. It also sells various partner brands in certain locales such as Topo Chico (licensed from Coca-Cola), Amstel and Dos Equis in Canada (through an exclusive import/license arrangement with Heineken) and Corona in Central Europe (through an agreement with Anheuser-Busch InBev). The firm’s go-to-market approach differs by geography as well, primarily using independent distributors in the U.S., but deploying hybrid models in Canada and Europe.
