Molson Coors Beverage Co reports results for the quarter ended June 30 - Earnings Summary

• Molson Coors Beverage Co TAP.N reported quarterly adjusted earnings of $2.05​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $1.92. The mean expectation of sixteen analysts for the quarter was for earnings of $1.83 per share. Wall Street expected results to range from $1.64 to $1.89 per share.

• Revenue fell 1.6% to $3.20 billion from a year ago; analysts expected $3.10 billion.

• Molson Coors Beverage Co's reported EPS for the quarter was $2.13​.

• The company reported quarterly net income of $428.7 million.

• Molson Coors Beverage Co shares had risen by 1.1% this quarter and lost 15.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 9.9% in the last three months.​

• In the last 30 days, seven analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy," 16 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the brewers peer group is "buy."

• Wall Street's median 12-month price target for Molson Coors Beverage Co is $57.00, about 14.7% above its last closing price of $48.61

This summary was machine generated from LSEG data August 5 at 12:19 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)