– Molson Coors Brewing Company (NYSE: TAP) reported underlying earnings of $1.48 per share for the third quarter of 2019, vs. $1.48 per share expected.
– Total revenues decreased 3.2% annually to $2.84 billion in the September-quarter, vs. $2.87 billion expected
– On a reported basis, Molson reported a net loss of $402.8 million or $1.86 per share, compared to profit of $338.3 million or $1.56 per share last year
– Expects underlying free cash flow of $1.4 billion, plus or minus 10%, for fiscal 2019; sees capital spending of approximately $700 million, plus or minus 10%
– Expects net sales revenue to be flat to low-single digit decrease, on a constant currency basis, in fiscal 2020; expects underlying free cash flow of $1.1 billion, plus or minus 10%, for 2020
– Announced revitalization plan to achieve consistent top-line growth by improving efficiency and unlocking resources to reinvest in the business
— Molson Coors shares dropped early Wednesday, following the earnings report, after closing the previous session higher
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
