BUZZ-Molson Coors Beverage soars after quarterly sales, profit beat

Reuters
13 Feb
BUZZ-Molson Coors Beverage soars after quarterly sales, profit beat

Updates

** Molson Coors Beverage's TAP.N shares jump as much as 7.1% at $57.25 in early trading

** If gains hold, stock set for best day since September 2024

** Beer maker posts quarterly sales of $2.74 billion vs analysts' estimate of $2.70 billion, as per data compiled by LSEG

** Logs underlying profit of $1.30 per share vs estimate of $1.13 per share

** Its forecast of FY sales growth is in contrast to analysts' estimate of a decline

** Co says EMEA and APAC segments, as well as Canada performed strongly; however U.S. was challenged and, along with a contract wind down, hit results by 3%

** TAP stock fell 6% in 2024

(Reporting by Aamir Sohail in Bengaluru)

((Aamir.Sohail@thomsonreuters.com;))

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