Benzinga | Apr 29, 2021 08:06AM EDT

Recap: Molson Coors Beverage Q1 Earnings



Shares of Molson Coors Beverage (NYSE:TAP) rose 0.1% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were down 97.14% over the past year to $0.01, which beat the estimate of ($0.09).

Revenue of $1,898,000,000 declined by 9.75% from the same period last year, which beat the estimate of $1,880,000,000.

Guidance

Molson Coors reaffirmed guidance for 2021.

Conference Call Details

Date: Apr 29, 2021

Time: 11:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fir.molsoncoors.com%2F&eventid=3079712&sessionid=1&key=31FB84CC671B9756019822867AD2D66A&regTag=&V2=false&sourcepage=register

Recent Stock Performance

Company's 52-week high was at $56.10

Company's 52-week low was at $32.11

Price action over last quarter: Up 17.96%

Company Description

Molson Coors is the fifth- largest beer producer globally, boasting top-two positioning in the U.S., Canada, and many Central European markets. It brews and markets a slew of company-owned brands including Blue Moon, Coors, Miller, Vizzy, and Staropramen. It also sells various partner brands in certain locales such as Topo Chico (licensed from Coca-Cola), Amstel and Dos Equis in Canada (through an exclusive import/license arrangement with Heineken) and Corona in Central Europe (through an agreement with Anheuser-Busch InBev). The firm's go-to-market approach differs by geography as well, primarily using independent distributors in the U.S., but deploying hybrid models in Canada and Europe.