💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Higher prices drive profit beat at Molson Coors

Published 02/14/2018, 08:18 AM
© Reuters.  Higher prices drive profit beat at Molson Coors
TAP
-
  • Molson Coors (NYSE:TAP) gains in early trading after knocking out a Q4 profit beat.
  • Revenue was up 4.5% to $2.58B during the quarter, while underlying EBITDA increased 17% to $480M.
  • Net sales per hectoliter were up 5.85 tp $111.89 as higher pricing factored in. Total volume was down 1.% to 22.4M hectoliters.
  • Molson says it delivered more than $255M of synergies and other cost savings in 2017 to top its original target by more than $80M. Looking ahead, the company increases its three-year savings target to $600M of all-in savings to be delivered by 2019.
  • CEO outlook: "In 2018, our First Choice focus across regions will continue to strengthen and premiumize our brand portfolio, while deepening our customer relationships. We will also continue to retain flexibility in our P&L, deliver on our cost savings and remain laser-focused on delivering against our cash targets and strengthening our balance sheet."
  • Previously: Molson Coors Brewing beats by $0.06, misses on revenue (Feb. 14)
  • TAP +2.71% premarket to $77.75.
  • Now read: Concha Y Toro: Digging Deeper Into The Financials


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.