Molson Coors beat fourth-quarter sales and profit estimates, fueled by recovering demand for its beer brands and cost-cutting measures. Sales in the Americas segment, the company's biggest revenue generator, improved despite lingering input costs. Molson Coors expects annual net sales to grow in the low single-digit range.
beat fourth-quarter sales and profit estimates on Thursday, helped by recovering demand for its beer brands including Coors Light and Miller Lite in the Americas.The company saw sales recover in certain regions, as consumers continued to lean on their favorite beers after cutting back on expensive wines and spirits.
The improvement in sales in the Americas, a biggest revenue generating region, was driven by a consecutive rise in brand volumes in Canada. That, along with Molson Coors’ efforts to lower its marketing expenses, helped it in posting underlying earnings per share of $1.30, compared with analysts’ estimates of $1.13 per share, as per data compiled by LSEG.
The company expects annual net sales to be up in low single-digit, compared with analysts’ estimate of a 0.55 per cent decline.
Earnings Sales Beer Trade Policy Input Costs
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Qualcomm Tops Sales Forecasts as High-End Handset Demand Remains StrongQualcomm Inc., the world’s biggest seller of smartphone processors, exceeded sales estimates for the current quarter, indicating continued demand for premium handsets and progress in new markets. The company projected revenue between $10.3 billion and $11.2 billion for the period ending in March, surpassing analyst expectations of $10.4 billion.
Read more »
Apple profit tops Wall Street target even as iPhone, China sales fall shortThe company’s overall sales and profits were boosted by stronger-than-expected sales of iPads and Macs, where new chips helped persuade customers to upgrade
Read more »
Target Raises Holiday Sales Forecast but Profit Concerns Drag Shares DownTarget boosted its holiday-quarter comparable sales forecast on robust shopper demand but profit margin concerns sent its shares down nearly 3 percent. The retailer reported record-breaking sales on Black Friday and Cyber Monday, prompting the sales forecast increase. However, Target maintained its earnings per share forecast, suggesting discounts were crucial to driving sales. Analysts expressed concerns about the impact of inventory buildups and margin pressure on profits.
Read more »
Einarson cruises to 10-1 victory over Skrlik at Grand Slam’s MastersJacobs tops Epping in opening men’s draw at Grand Slam of Curling’s WFG Masters
Read more »
Automakers push back on electric vehicle sales mandates as federal incentives haltedTORONTO — Automakers in Canada are calling for the end of electric vehicle sales mandates because of the sudden pause of federal EV incentives and what they say is the slow build-out of charging infrastructure.
Read more »
Class-action lawsuit accuses Loblaws, Walmart and Sobeys of underweight meat salesVANCOUVER — A proposed class-action lawsuit launched in British Columbia alleges Loblaws, Walmart Canada and Sobeys 'misrepresented' the weight of meat products by including the weight of packaging in calculating prices.
Read more »