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Is a Beat in Store for Molson Coors (TAP) in Q2 Earnings?
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Molson Coors Beverage Company (TAP - Free Report) is expected to register top and bottom-line growth when it reports second-quarter 2023 earnings on Aug 1. The Zacks Consensus Estimate for the company’s second-quarter revenues is pegged at $3.2 billion, suggesting 10.7% growth from the prior-year period’s reported figure.
The consensus mark for earnings has moved up 4.7% in the past seven days to $1.55 per share. It suggests an increase of 30.3% from the year-ago reported figure.
We expect total revenues to be up 2.5% year over year to $2,995 million and the bottom line to increase 7.5% to $1.28 a share in the second quarter of 2023.
In the last reported quarter, this leading alcohol company delivered an earnings surprise of 107.7%. It recorded an earnings surprise of 32.1%, on average, in the trailing four quarters.
Molson Coors Beverage Company Price and EPS Surprise
Molson Coors has been benefiting from strength in core brands, as well as strong market share through innovation and premiumization. Strength in core brands, including Coors Light, Miller Lite and Coors Banquet, drove industry share growth in the United States. Molson Canadian and Carling beer in the U.K., and national champion brands have been witnessing significant market share gains.
The company has highlighted that it has been making efforts to change the shape of its product portfolio and expand in growth areas. Its U.S. above-premium portfolio witnessed sales that outpaced its U.S. economy portfolio, driven by rapid growth of its hard seltzers, the successful launch of Simply Spiked Lemonade, and the continued strength in Blue Moon and Peroni’s.
TAP has been on track with its revitalization plan focused on achieving sustainable top-line growth by streamlining the organization and reinvesting resources into its brands and capabilities. As part of this plan, it has been investing in iconic brands and growth opportunities in the above-premium beer space, expanding in adjacencies and beyond beer, and creating digital competencies for commercial functions, supply-chain-related system capabilities and employees.
These investments are expected to get reflected in Molson Coors’ second-quarter top line. Also, the company’s cost-saving program has been one of the key growth drivers.
However, Molson Coors has been witnessing lower brand and financial volume. Inflationary pressures are likely to have been other headwinds.
TAP has been witnessing weakened consumer demand across the beer industry. This is mainly due to pricing actions. On its last reported quarter’s earnings call, management expected global inflationary pressures to remain a headwind.
Zacks Model
Our proven model predicts an earnings beat for Molson Coors this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Molson Coors has an Earnings ESP of +8.94% and a Zacks Rank #1 at present.
Stocks With the Favorable Combination
Here are three companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:
The Zacks Consensus Estimate for Beyond Meat’s quarterly revenues is pegged at $111.3 million, calling for a decline of 24.3% from the prior-year quarter’s reported figure. The Zacks Consensus Estimate for the bottom line is pegged at a loss of 81 cents, which suggests an improvement of 47.1% from the figure reported in the year-ago quarter. BYND has a trailing four-quarter negative earnings surprise of 14.1%, on average.
Celsius Holdings, Inc. (CELH - Free Report) currently has an Earnings ESP of +10.04% and a Zacks Rank #2. The company’s top and bottom lines are expected to increase year over year when it reports second-quarter 2023 results. The Zacks Consensus Estimate for Celsius Holdings’ quarterly revenues is pegged at $278.9 million, calling for growth of 81.1% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for the quarterly EPS is pegged at 31 cents, indicating an improvement from the 12 cents reported in the year-ago quarter. CELH has a trailing four-quarter negative earnings surprise of 99.1%, on average.
Church & Dwight (CHD - Free Report) currently has an Earnings ESP of +0.51% and a Zacks Rank #2. The company’s top and bottom lines are expected to increase year over year when it reports second-quarter 2023 results. The Zacks Consensus Estimate for Church & Dwight’s quarterly revenues is pegged at $1.4 billion, which implies a rise of 7% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for the quarterly EPS is pegged at 79 cents, which indicates a 4% increase from the year-ago period’s reported figure. CHD has a trailing four-quarter earnings surprise of 9.8%, on average.
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Is a Beat in Store for Molson Coors (TAP) in Q2 Earnings?
Molson Coors Beverage Company (TAP - Free Report) is expected to register top and bottom-line growth when it reports second-quarter 2023 earnings on Aug 1. The Zacks Consensus Estimate for the company’s second-quarter revenues is pegged at $3.2 billion, suggesting 10.7% growth from the prior-year period’s reported figure.
The consensus mark for earnings has moved up 4.7% in the past seven days to $1.55 per share. It suggests an increase of 30.3% from the year-ago reported figure.
We expect total revenues to be up 2.5% year over year to $2,995 million and the bottom line to increase 7.5% to $1.28 a share in the second quarter of 2023.
In the last reported quarter, this leading alcohol company delivered an earnings surprise of 107.7%. It recorded an earnings surprise of 32.1%, on average, in the trailing four quarters.
Molson Coors Beverage Company Price and EPS Surprise
Molson Coors Beverage Company price-eps-surprise | Molson Coors Beverage Company Quote
Key Factors to Note
Molson Coors has been benefiting from strength in core brands, as well as strong market share through innovation and premiumization. Strength in core brands, including Coors Light, Miller Lite and Coors Banquet, drove industry share growth in the United States. Molson Canadian and Carling beer in the U.K., and national champion brands have been witnessing significant market share gains.
The company has highlighted that it has been making efforts to change the shape of its product portfolio and expand in growth areas. Its U.S. above-premium portfolio witnessed sales that outpaced its U.S. economy portfolio, driven by rapid growth of its hard seltzers, the successful launch of Simply Spiked Lemonade, and the continued strength in Blue Moon and Peroni’s.
TAP has been on track with its revitalization plan focused on achieving sustainable top-line growth by streamlining the organization and reinvesting resources into its brands and capabilities. As part of this plan, it has been investing in iconic brands and growth opportunities in the above-premium beer space, expanding in adjacencies and beyond beer, and creating digital competencies for commercial functions, supply-chain-related system capabilities and employees.
These investments are expected to get reflected in Molson Coors’ second-quarter top line. Also, the company’s cost-saving program has been one of the key growth drivers.
However, Molson Coors has been witnessing lower brand and financial volume. Inflationary pressures are likely to have been other headwinds.
TAP has been witnessing weakened consumer demand across the beer industry. This is mainly due to pricing actions. On its last reported quarter’s earnings call, management expected global inflationary pressures to remain a headwind.
Zacks Model
Our proven model predicts an earnings beat for Molson Coors this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Molson Coors has an Earnings ESP of +8.94% and a Zacks Rank #1 at present.
Stocks With the Favorable Combination
Here are three companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:
Beyond Meat (BYND - Free Report) currently has an Earnings ESP of +14.60% and a Zacks Rank of 2. BYND is expected to register a top-line decrease when it reports second-quarter 2023 numbers. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Beyond Meat’s quarterly revenues is pegged at $111.3 million, calling for a decline of 24.3% from the prior-year quarter’s reported figure. The Zacks Consensus Estimate for the bottom line is pegged at a loss of 81 cents, which suggests an improvement of 47.1% from the figure reported in the year-ago quarter. BYND has a trailing four-quarter negative earnings surprise of 14.1%, on average.
Celsius Holdings, Inc. (CELH - Free Report) currently has an Earnings ESP of +10.04% and a Zacks Rank #2. The company’s top and bottom lines are expected to increase year over year when it reports second-quarter 2023 results. The Zacks Consensus Estimate for Celsius Holdings’ quarterly revenues is pegged at $278.9 million, calling for growth of 81.1% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for the quarterly EPS is pegged at 31 cents, indicating an improvement from the 12 cents reported in the year-ago quarter. CELH has a trailing four-quarter negative earnings surprise of 99.1%, on average.
Church & Dwight (CHD - Free Report) currently has an Earnings ESP of +0.51% and a Zacks Rank #2. The company’s top and bottom lines are expected to increase year over year when it reports second-quarter 2023 results. The Zacks Consensus Estimate for Church & Dwight’s quarterly revenues is pegged at $1.4 billion, which implies a rise of 7% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for the quarterly EPS is pegged at 79 cents, which indicates a 4% increase from the year-ago period’s reported figure. CHD has a trailing four-quarter earnings surprise of 9.8%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.