Beer company Molson Coors (NYSE:TAP) will be reporting results this Thursday morning. Here’s what you need to know.
Molson Coors beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $2.74 billion, down 2% year on year. It was a strong quarter for the company, with a decent beat of analysts’ EPS and EBITDA estimates.
Is Molson Coors a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Molson Coors’s revenue to decline 6.5% year on year to $2.43 billion, a reversal from the 10.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.80 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Molson Coors has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Molson Coors’s peers in the beverages, alcohol, and tobacco segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Boston Beer delivered year-on-year revenue growth of 6.5%, beating analysts’ expectations by 4.1%, and Vita Coco reported revenues up 17.2%, topping estimates by 4%. Boston Beer traded up 2.8% following the results while Vita Coco was also up 5.8%.
Read our full analysis of Boston Beer’s results here and Vita Coco’s results here.
There has been positive sentiment among investors in the beverages, alcohol, and tobacco segment, with share prices up 2.1% on average over the last month. Molson Coors is down 4.8% during the same time and is heading into earnings with an average analyst price target of $66.75 (compared to the current share price of $57.48).
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