Beer company Molson Coors (NYSE: TAP) will be announcing earnings results this Thursday before market open. Here’s what you need to know.
Molson Coors met analysts’ revenue expectations last quarter, reporting revenues of $3.10 billion, down 3.3% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ EBITDA estimates but a significant miss of analysts’ gross margin estimates.
Is Molson Coors a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Molson Coors’s revenue to decline 1.1% year on year, improving from the 2.3% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Molson Coors has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Molson Coors’s peers in the beverages, alcohol, and tobacco segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Vita Coco delivered year-on-year revenue growth of 33.7%, beating analysts’ expectations by 6.1%, and Coca-Cola reported revenues up 7.6%, topping estimates by 3.7%. Vita Coco traded down 11% following the results while Coca-Cola was also down 1%.
Read our full analysis of Vita Coco’s results here and Coca-Cola’s results here.
There has been positive sentiment among investors in the beverages, alcohol, and tobacco segment, with share prices up 7% on average over the last month. Molson Coors is up 14.8% during the same time and is heading into earnings with an average analyst price target of $43.62 (compared to the current share price of $41.92).
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