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- Molson Coors Beverage Co (NYSE:TAP) reported fourth-quarter FY21 sales growth of 14.2% year-on-year, to $2.62 billion, beating the consensus of $2.55 billion.
- Net sales in the Americas rose 7.6% Y/Y, and EMEA & APAC gained 56.4%.
- Gross profit fell 4.2% Y/Y to $857.3 million. The operating margin was 6.3%, and operating income for the quarter was $165 million versus $(1.28) billion last year.
- Related: Hard Lemonade Coming From Coca-Cola: What Investors Should Know About Beverage Giant's Continued Push Into Alcohol
- Adjusted EPS of $0.81 missed the consensus of $0.85.
- Underlying EBITDA of $457.3 million increased 21.9% Y/Y.
- Molson Coors Beverage held $637.4 million in cash and equivalents as of December 31, 2021. Cash provided by operating activities for twelve months amounted to $1.6 billion.
- The company raised the quarterly dividend by 12% to $0.38 from $0.34 per share, payable March 18, 2022, to shareholders of record on March 7, 2022.
- Outlook: Molson expects FY22 sales to have mid-single-digit growth on a constant currency basis.
- Price Action: TAP shares traded higher by 4.96% at $51.00 on the last check Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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