2023-05-02 07:09:52 ET
- Molson Coors press release ( NYSE: TAP ): Q1 Non-GAAP EPS of $0.54 beats by $0.28 .
- Revenue of $2.35B (+6.3% Y/Y) beats by $120M .
- Net sales increased 5.9% reported and 8.2% in constant currency, primarily due to positive net pricing and favorable sales mix, partially offset by a slight decline in financial volume.
- Net sales per hectoliter increased 6.1% reported and 8.4% in constant currency, primarily due to positive net pricing and favorable sales mix driven by premiumization.
-
2023 OUTLOOK
We continue to expect to achieve the following key financial targets for full year 2023. However, inherent uncertainties still exist with beer industry softness and the impacts of continued global inflationary cost pressures.
- Net sales: low single-digit increase versus 2022 on a constant currency basis.
- Underlying income (loss) before income taxes: low single-digit increase compared to 2022 on a constant currency basis.
- Capital Expenditures: $700 million incurred, plus or minus 5%.
- Underlying free cash flow: $1.0 billion, plus or minus 10%.
- Underlying depreciation and amortization: $690 million, plus or minus 5%.
- Consolidated net interest expense: $240 million, plus or minus 5%.
- Underlying effective tax rate: in the range of 21% to 23% for 2023.
For further details see:
Molson Coors Non-GAAP EPS of $0.54 beats by $0.28, revenue of $2.35B beats by $120M