earnings
confidence high
sentiment negative
materiality 0.80
Molson Coors Q2: underlying EPS $1.19, down 24.7%; net sales +2.2% constant currency; reaffirms FY guidance
MOLSON COORS BEVERAGE CO
- Net sales $2,921.7M, down 0.6% reported, +2.2% constant currency; brand volumes declined 1.8%.
- GAAP net income $47.3M ($0.22 diluted EPS) vs $388.6M ($1.79) in Q2 2021, down 87.8%.
- Underlying diluted EPS $1.19, down from $1.58, a decrease of 24.7% year-over-year.
- Reaffirms 2022 guidance for mid-single digit top-line and high single digit bottom-line growth.
- Montreal brewery labor strike ended mid-June; U.S. dollar share grew for first time in over a decade.