Molson Coors Brewing (TAP) Tops Q3 EPS by 13c; cuts guidance

Molson Coors Brewing (NYSE: TAP) reported Q3 EPS of $1.80, $0.13 better than the analyst estimate of $1.67. Revenue for the quarter came in at $3.04 billion versus the consensus estimate of $3.13 billion.

"As a result of the impact of the macroeconomic environment on the U.S. beer industry and on our volumes during this year\'s peak selling season, we are adjusting our full year 2024 top-line guidance. We continue to expect to achieve the remaining targets for the full year 2024. However, the inherent uncertainties and challenges that exist in the U.S. macroeconomic environment could continue to impact our financial performance.

Net Sales: Approximate 1% decline versus 2023 on a constant currency basis from our previous guidance of low single-digit increase versus 2023 on a constant currency basis. The adjustment is due to the softness in the U.S. beer industry over the peak selling season."

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

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