Molson Coors Brewing (NYSE: TAP) reported non-GAAP earnings of $1.02 per share for the fourth quarter of 2019 vs. $0.78 per share expected.
Sales increased 2.8% on a reported basis and 3% on constant currency to $2.45 billion vs. $2.48 billion expected.
GAAP net income was $163.7 million or $0.75 per share vs. $76 million or $0.35 per share in the prior-year quarter.
For fiscal 2020, Molsor expects sales to be flat to low-single digit decrease on a constant currency basis; expects capital spending to be about $700 million, plus or minus 10%.
TAP shares rose about 5% in the pre-market trading hours.
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