- Molson Coors (NYSE:TAP) tracks lower in early trading after Q2 revenue and EBITDA falls short of estimates.
- The brewer reports brand volume fell 2.4% to 25.7M hectoliters during the quarter. Sales per hectoliter were up 1.9% to $111.20.
- Underlying EBITDA fell 2.6% on a reported basis and decreased 3.8% on a constant-currency basi
- "Our full year underlying cost savings and free cash flow guidance has not changed, despite ongoing industry demand challenges in the U.S. and Canada and inflationary pressures," says Molson CEO Mark Hunter. "While we are aggressively addressing our volume performance in North America, performance in our Europe and International businesses was strong in the quarter," he adds.
- TAP -1.49% premarket to $66.00.
- Previously: Molson Coors Brewing beats by $0.05, misses on revenue (Aug. 1)
- Now read: Molson Coors Brewing (TAP) Presents at Deutsche Bank (DE:DBKGn) dbAccess 2018 Annual Global Consumer Conference - Slideshow
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