Published on 30 Apr 2024 on Zacks via Yahoo Finance

Molson Coors (TAP) Q1 Earnings & Sales Beat on Robust Segments

Molson Coors Beverage Company TAP has posted impressive first-quarter 2024 results, wherein both bottom and top lines surpassed the Zacks Consensus Estimate. Also, both metrics improved year over year. The quarterly results have gained from brand strength and favorable shipment timing in the United States.The quarterly performance highlights significant progress against the Acceleration Plan. The strength of core power brands leads to double-digit brand volume growth for Coors Light and Coors Banquet, and high-single-digit brand volume growth for Miller Lite in the United States, and double-digit brand volume growth for Ozujsko in Croatia. The above premium portfolio, encompassing both beer and beyond beer, benefits from continued growth from successful innovations like Madri in the U.K. and Simply Spiked in the United States and Canada.The Zacks Rank #3 (Hold) company has gained 3.3% in the past six months against the industry’s 2.3% decline.

Molson Coors Beverage Company Price, Consensus and EPS Surprise