Earnings To Watch: Molson Coors (TAP) Reports Q4 Results Tomorrow
Stock Story
Published Feb 12, 2024 02:01
Updated Feb 12, 2024 06:20
Earnings To Watch: Molson Coors (TAP) Reports Q4 Results Tomorrow
Stock Story -
Beer company Molson Coors (NYSE:TAP) will be reporting earnings tomorrow before market hours. Here's what you need to know.
Last quarter Molson Coors reported revenues of $3.30 billion, up 12.4% year on year, beating analyst revenue expectations by 2%. It was a very strong quarter for the company, with a solid beat of analysts' earnings estimates.
Is Molson Coors buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Molson Coors's revenue to grow 5.8% year on year to $2.78 billion, improving on the 0.4% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.12 per share.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing three upward revisions over the last thirty days. The company missed Wall St's revenue estimates three times over the last two years.
Looking at Molson Coors's peers in the consumer staples segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Constellation Brands (NYSE:STZ) delivered top-line growth of 1.4% year on year, missing analyst estimates by 2.6% and BellRing Brands reported revenues up 18.7% year on year, exceeding estimates by 5.4%. Both stocks (Constellation Brand and BellRing Brands) traded flat on the results.
Read the full analysis of Constellation Brands's and BellRing Brands's results on StockStory.
Investors in the consumer staples segment have had steady hands going into the earnings, with the stocks up on average 0.5% over the last month. Molson Coors is down 4.7% during the same time, and is heading into the earnings with analyst price target of $67.5, compared to share price of $60.2.
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Written By: Stock Story
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