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Molson Coors (TAP) to Post Q1 Earnings: Brand Strength to Aid
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Molson Coors Beverage Company (TAP - Free Report) is expected to register top and bottom-line growth when it reports first-quarter 2024 earnings on Apr 30, before market open. The Zacks Consensus Estimate for the company’s first-quarter revenues is pegged at $2.5 billion, suggesting 6.5% growth from the prior-year period’s reported figure.
The consensus mark for earnings has moved up by a penny in the past 30 days to 71 cents per share, indicating a rise of 31.5% from the year-ago reported figure.
In the last reported quarter, this leading alcohol company delivered an earnings surprise of 6.3%. It has recorded an earnings surprise of 37.2%, on average, in the trailing four quarters.
Molson Coors Beverage Company Price, Consensus and EPS Surprise
Molson Coors has been exhibiting robust brand strength and success across its geographic segments, which have historically driven sales increases. Market share gains through innovation and premiumization have also been driving its performance. By expanding its portfolio toward higher-margin, above-premium products, such as Simply Spiked Lemonade, Molson Coors has positioned itself to capitalize on growing consumer preferences for premium beverages.
Another significant contributor to the expected revenue increase is the strategic investment in core brand strength and market expansion. The company's focus on bolstering its iconic brands, Coors Light, Miller Lite, and Coors Banquet, through increased marketing efforts and distribution gains, particularly in the United States and Canada, are noteworthy. These upsides are likely to have impacted the top-line performance in the quarter under review. Additionally, the company’s top line is expected to have benefited from its pricing actions, which have been undertaken to overcome the inflationary environment.
Apart from this, Molson Coors' ongoing cost-saving initiatives, which aim to streamline operations and reduce overheads, support financial health, allowing more funds to be reinvested into key marketing and sales activities.
However, the company has been witnessing cost inflation with respect to materials and manufacturing expenses, along with an unfavorable mix. On the last reported quarter’s earnings call, management anticipated the persistence of inflation impacts on COGS for the first quarter. Also, softness in the overall beer industry has been concerning.
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 before they are reported with our Earnings ESP Filter.
Molson Coors currently has a Zacks Rank #3 and an Earnings ESP of +3.30%.
Other Stocks With the Favorable Combination
Here are three other companies that, per our model, have the right combination of elements to post an earnings beat:
Keurig Dr Pepper Inc. (KDP - Free Report) currently has an Earnings ESP of +0.29% and a Zacks Rank #3. KDP is anticipated to register top-line growth when it reports second-quarter 2024 results. The Zacks Consensus Estimate for KDP’s quarterly revenues is pegged at $3.92 billion, indicating growth of 3.5% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Keurig Dr Pepper’s earnings has moved up by a penny in the past seven days to 46 cents per share. The consensus estimate suggests 9.5% growth from the prior-year quarter’s reported figure. KDP has delivered an earnings beat of 5.2%, on average, in the trailing four quarters.
Brown-Forman Corporation (BF.B - Free Report) currently has an Earnings ESP of +0.60% and a Zacks Rank #3. The company is expected to register top and bottom-line declines when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for Brown-Forman’s quarterly revenues is pegged at $1.03 billion, which suggests a decline of 1.8% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for Brown-Forman’s quarterly earnings has been unchanged in the past 30 days at 42 cents per share. The estimate indicates a 2.3% decline from the year-ago reported quarter. BF.B has delivered a negative earnings surprise of 1.3%, on average, in the trailing four quarters.
The Hershey Company (HSY - Free Report) has an Earnings ESP of +1.42% and a Zacks Rank #3 at present. HSY is likely to register top-line growth when it releases first-quarter 2024 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $3.12 billion, which implies growth of 4.5% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Hershey’s quarterly earnings has been moved down by a penny in the past seven days at $2.72 per share, suggesting a decline of 8.1% from the year-ago quarter’s reported number. HSY has delivered an earnings surprise of 6.5%, on average, in the trailing four quarters.
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Molson Coors (TAP) to Post Q1 Earnings: Brand Strength to Aid
Molson Coors Beverage Company (TAP - Free Report) is expected to register top and bottom-line growth when it reports first-quarter 2024 earnings on Apr 30, before market open. The Zacks Consensus Estimate for the company’s first-quarter revenues is pegged at $2.5 billion, suggesting 6.5% growth from the prior-year period’s reported figure.
The consensus mark for earnings has moved up by a penny in the past 30 days to 71 cents per share, indicating a rise of 31.5% from the year-ago reported figure.
In the last reported quarter, this leading alcohol company delivered an earnings surprise of 6.3%. It has recorded an earnings surprise of 37.2%, on average, in the trailing four quarters.
Molson Coors Beverage Company Price, Consensus and EPS Surprise
Molson Coors Beverage Company price-consensus-eps-surprise-chart | Molson Coors Beverage Company Quote
Key Factors to Note
Molson Coors has been exhibiting robust brand strength and success across its geographic segments, which have historically driven sales increases. Market share gains through innovation and premiumization have also been driving its performance. By expanding its portfolio toward higher-margin, above-premium products, such as Simply Spiked Lemonade, Molson Coors has positioned itself to capitalize on growing consumer preferences for premium beverages.
Another significant contributor to the expected revenue increase is the strategic investment in core brand strength and market expansion. The company's focus on bolstering its iconic brands, Coors Light, Miller Lite, and Coors Banquet, through increased marketing efforts and distribution gains, particularly in the United States and Canada, are noteworthy. These upsides are likely to have impacted the top-line performance in the quarter under review. Additionally, the company’s top line is expected to have benefited from its pricing actions, which have been undertaken to overcome the inflationary environment.
Apart from this, Molson Coors' ongoing cost-saving initiatives, which aim to streamline operations and reduce overheads, support financial health, allowing more funds to be reinvested into key marketing and sales activities.
However, the company has been witnessing cost inflation with respect to materials and manufacturing expenses, along with an unfavorable mix. On the last reported quarter’s earnings call, management anticipated the persistence of inflation impacts on COGS for the first quarter. Also, softness in the overall beer industry has been concerning.
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 before they are reported with our Earnings ESP Filter.
Molson Coors currently has a Zacks Rank #3 and an Earnings ESP of +3.30%.
Other Stocks With the Favorable Combination
Here are three other companies that, per our model, have the right combination of elements to post an earnings beat:
Keurig Dr Pepper Inc. (KDP - Free Report) currently has an Earnings ESP of +0.29% and a Zacks Rank #3. KDP is anticipated to register top-line growth when it reports second-quarter 2024 results. The Zacks Consensus Estimate for KDP’s quarterly revenues is pegged at $3.92 billion, indicating growth of 3.5% from the figure reported in the prior-year quarter.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Keurig Dr Pepper’s earnings has moved up by a penny in the past seven days to 46 cents per share. The consensus estimate suggests 9.5% growth from the prior-year quarter’s reported figure. KDP has delivered an earnings beat of 5.2%, on average, in the trailing four quarters.
Brown-Forman Corporation (BF.B - Free Report) currently has an Earnings ESP of +0.60% and a Zacks Rank #3. The company is expected to register top and bottom-line declines when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for Brown-Forman’s quarterly revenues is pegged at $1.03 billion, which suggests a decline of 1.8% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for Brown-Forman’s quarterly earnings has been unchanged in the past 30 days at 42 cents per share. The estimate indicates a 2.3% decline from the year-ago reported quarter. BF.B has delivered a negative earnings surprise of 1.3%, on average, in the trailing four quarters.
The Hershey Company (HSY - Free Report) has an Earnings ESP of +1.42% and a Zacks Rank #3 at present. HSY is likely to register top-line growth when it releases first-quarter 2024 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $3.12 billion, which implies growth of 4.5% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Hershey’s quarterly earnings has been moved down by a penny in the past seven days at $2.72 per share, suggesting a decline of 8.1% from the year-ago quarter’s reported number. HSY has delivered an earnings surprise of 6.5%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.