- 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
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