Molson Coors reports highest sales growth in a decade
Molson Coors Beverage Co. (TAP) stock rose 2.4% in Thursday premarket trading after the beer producer reported second-quarter earnings and sales that beat expectations. Net income totaled $388.6 million, or $1.79 per share, up from $195.0 million, or 90 cents per share. Adjusted EPS of $1.58 beat the FactSet consensus for $1.34. Sales of $3.564 billion were up from $3.030 billion last year and ahead of the FactSet consensus for $2.811 billion. "This quarter represents the best results we have had since implementing our revitalization plan nearly two years ago, and it delivered the most top-line growth of any quarter in over a decade," said Chief Executive Gavin Hattersley in a statement. Molson Coors brands include Coors Light and Miller Lite beers, and Vizzy hard seltzer. Molson Coors stock has gained 9.6% for the year to date while the S&P 500 index has run up 17.2% for the period.
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(END) Dow Jones Newswires
July 29, 2021 07:40 ET (11:40 GMT)
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