Molson Coors Beverage Company (NYSE:TAP) shares are trading lower Thursday after the company reported worse-than-expected fourth-quarter revenue results and issued full-year adjusted earnings per share guidance below estimates.
- Molson stock is showing notable weakness. What’s behind TAP decline?
EPS Beat Offset By Revenue Miss, Soft Outlook
Molson reported adjusted earnings per share of $1.21, beating the consensus estimate of $1.16. The company reported revenue of $2.66 billion, missing the consensus estimate of $2.71 billion.
Net sales decreased 2.7% on a reported basis and 4% in constant currency. Underlying non-GAAP income before taxes totaled $296.8 million, representing a 13.8% decrease in constant currency.
“Despite a number of macroeconomic issues …