- Molson Coors press release ( NYSE: TAP ): Q4 Non-GAAP EPS of $1.30 beats by $0.23 .
- Revenue of $2.63B (+0.4% Y/Y) misses by $20M .
- Q4 underlying net income increased 59.3% on a Constant Currency Basis Delivering on Full Year Bottom-Line Guidance.
- Establishes Fiscal 2023 Guidance for Continued Growth Amidst Global Inflationary 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.
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Molson Coors reports mixed Q4 earnings; initiates FY23 outlook