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.
Micron Technology Inc. (NASDAQ: MU) reported third quarter 2022 earnings results today. Revenue increased 16% year-over-year to $8.64 billion. GAAP net income was $2.63 billion, or $2.34 per share, compared
Shares of Constellation Brands Inc. (NYSE: STZ) were down 4% on Thursday despite the company beating expectations on its first quarter 2023 earnings results. The stock has dropped 7% year-to-date.
Constellation Brands, Inc. (NYSE: STZ) reported first quarter 2023 earnings results today. Net sales increased 17% year-over-year to $2.3 billion. Net income attributable to CBI was $390 million, or $2.06