Molson Coors Q4 Profit, Revenue Beat Estimates; Stock Up In Pre-market

(RTTNews) - Molson Coors Beverage Company (TAP) Thursday reported net income of $287.8 million or $1.39 per share for the fourth quarter, significantly higher than $103.3 million or $0.48 per share in the same quarter a year ago, primarily due to lower other operating expenses. Earnings as well as revenue beat the Street expectations. The company's shares were more than 4 percent up in pre-market.

Other operating expense was $6 million in the latest quarter compared with $149.7 million last year.

Excluding one-time items, underlying net income rose to $268.6 million or $1.30 per share from $257.4 million or $1.19 per share last year. Analysts' average estimate was for $1.13 per share. Analysts' estimates typically exclude special items.

Operating income increased to $388.1 million from $199.3 million in the prior year.

Net sales, however, declined to $2.736 billion from $2.791 billion in the previous year, but beat the consensus estimate of $2.7 billion.

For fiscal 2025, the company expects sales to grow in low single-digit at constant currency. Underlying earnings per share is expected to increase in high single-digit.

Molson Coors stock had closed at $53.45, down 1.02 percent on Wednesday. It has traded in the range of $49.19 - $69.18 in the last 1 year.