Overview
Molson Coors Beverage Company (TAP) is currently undervalued by at least 25%.
Results should improve as restaurants and bars continue to re-open, the company continues to de-leverage and new growth initiatives are rolled out in the second half of the year.
Q2 Results Were Solid
In the second quarter, revenues decreased 15.1%. Volume decreased globally due to the impacts of the coronavirus and the related closure of on-premise outlets. In North America, revenues were down 8.3%. In Europe, net sales were down 44.6%. The European market is highly dependent on off-premise sales