WASHINGTON (dpa-AFX) - (Adds Outlook)
Molson Coors Brewing Company (TAP-A) reported earnings for its first quarter that increased from last year and beat the Street estimates.
The company's earnings totaled $207.8 million, or $0.97 per share. This compares with $72.5 million, or $0.33 per share, in last year's first quarter.
Excluding items, Molson Coors Brewing Company reported adjusted earnings of $202.8 million or $0.95 per share for the period.
Analysts on average had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 10.6% to $2.60 billion from $2.35 billion last year.
Outlook
For fiscal 2024, the company continues to expect underlying earnings per share to increase mid single-digit from last year.
Net Sales are still expected in low single-digit increase versus 2023 on a constant currency basis.
U.S. brand volume is expected to outpace domestic shipment volume during the remaining three quarters of 2024.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
