Molson Coors Beverage Clocks 14% Sales Growth In Q4, Tops Consensus; Boosts Dividend By 12%

Molson Coors Beverage Co 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.
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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.