Molson Coors Brewing (TAP) Tops Q2 EPS by 25c

Molson Coors Brewing (NYSE: TAP) reported Q2 EPS of $1.58, $0.25 better than the analyst estimate of $1.33. Revenue for the quarter came in at $2.94 billion versus the consensus estimate of $2.81 billion. Underlying (Non-GAAP) EBITDA of $697.8 million decreased 1.3% in constant currency.

Gavin Hattersley, President and Chief Executive Officer Statement:

“This quarter represents the best results we have had since implementing our revitalization plan nearly two years ago, and it delivered the most top-line growth of any quarter in over a decade. We’ve reached the point where the investments, partnerships and product launches that were byproducts of the revitalization plan are now bearing results, and we plan to put our foot even more firmly on the gas pedal as we drive towards sustainable top- and bottom-line growth for this business.”

Tracey Joubert, Chief Financial Officer Statement:

“We are proud of our second quarter operating performance, which underscores our progress in premiumizing our product portfolio. Our work under the revitalization plan coupled with our improved financial flexibility has enabled us to invest in our business, continue to de-lever our balance sheet and to reinstate a dividend, while reaffirming our financial guidance for 2021.”

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

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