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.
- Molson Coors Beverage Co (NYSE:TAP) reported first-quarter FY22 sales growth of 16.7% year-on-year to $2.21 billion, beating the consensus of $2.13 billion.
- Net sales from the Americas segment rose 8.5% Y/Y due to positive net pricing and favorable sales mix, partially offset by a 0.8% decrease in financial volumes.
- Net sales from EMEA & APAC increased 84.2% due to higher financial volumes, favorable sales mix, and positive net pricing.
- Gross profit increased 26.9% Y/Y to $927.8 million. The operating margin was 8.5%, and operating income for the quarter rose 26.6% to $224.4 million.
- Molson Coors Beverage held $358.7 million in cash and equivalents as of March 31, 2022.
- Non-GAAP EPS of $0.29 beat the analyst consensus of $0.19.
- Outlook: TAP continues to expect FY22 sales growth in the mid-single-digit on a constant currency basis.
- Tracey Joubert, CFO, stated, "Under our revitalization plan, we have built a strong foundation for future growth that has positioned us to manage through challenging times. This gives us the confidence to reaffirm our 2022 guidance for top and bottom-line growth."
- Price Action: TAP shares traded higher by 3.40% at $56.17 on the last check Tuesday.
- Photo Via Wikimedia Commons
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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