Molson Coors Brewing Company (TAP - Free Report) is the third largest global brewer in the world. This global manufacturer and seller of beer and other beverage products has an impressive portfolio of more than 65 leading beer brands.
Continued difficult economy and competitive pressure, along with lower volumes and significant unfavorable foreign currency are the major headwinds affecting the company. The company has also been posting declining sales volume in its major markets - Canada, the U.S. and Europe. The company is therefore focusing on improved marketing strategies for beers and targeting the above-premium brands to boost market share. The company’s acquisition of the remaining stake in MillerCoors, cost savings efforts and marketing investments are encouraging, which might bring profit to its investors.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 and 2018 have decreased by 0.2% and 2.3% in the last seven days. However, in the trailing four quarters, excluding quarter under review, the company missed the Zacks Consensus Estimate by an average of nearly 22.6%.
Zacks Rank: Currently, TAP has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here. The Zacks Rank could definitely change following Molson Coors’ earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: TAP posted earnings of $1.66 per share, missing our consensus of $2.04 per share. Investors should note that these figures take out stock option expenses.
Revenue: TAP posted revenues of $3.091 billion. This marginally beats our consensus estimate of $3.084 billion.
Key Stats to Note: Sales declined 0.6% in the quarter on a reported basis and grew 1.3% on a constant currency basis. Molson Coors’ worldwide brand volume grew 2.3% to 26.4 million hectoliters.
Stock Price: Shares were inactive in pre-market trading.
Check back later for our full write up on this TAP earnings report later!
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