Molson Coors Beverage Company (NYSE: TAP) slipped to a loss in the first quarter of 2020 from a profit last year, due to unfavorable unrealized mark-to-market changes on its commodity positions and HEXO warrants, as well as the on-premise impacts of the coronavirus pandemic, the impact of lower financial volume, inflation and negative mix.
The top line fell by 9% due to financial volume declines, estimated keg sales returns and reimbursements, as well as unfavorable mix. The board is actively evaluating various capital allocation options, including a suspension, reduction, or temporary elimination of its dividend. On March 27, Molson withdrew its financial outlook for 2020 and beyond due to the rapid spread of the COVID-19 outbreak.
Shares of Hormel Foods Corporation (NYSE: HRL) were down over 1% on Monday. The stock has dropped 29% year-to-date. The food company is set to report its fourth quarter 2023 earnings
The Kroger Co. (NYSE: KR), a leading grocery retailer that operates both in-store and online, will be reporting earnings this week. The company, which is preparing to acquire rival retailer
Salesforce, Inc. (NYSE: CRM) achieved accelerated sales growth and profitability in recent quarters, in line with its transformation goal. The customer relationship management platform bets on new opportunities in generative