Benzinga | Jul 30, 2020 07:28AM EDT

Recap: Molson Coors Beverage Q2 Earnings

Shares of Molson Coors Beverage (NYSE:TAP) moved higher by 1.6% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 1.97% year over year to $1.55, which beat the estimate of $0.70.

Revenue of $2,503,000,000 declined by 15.09% from the same period last year, which beat the estimate of $2,450,000,000.

Looking Ahead

Molson Coors Beverage hasn't issued any earnings guidance for the time being.

Molson Coors Beverage hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: Jul 30, 2020

Time: 11:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fir.molsoncoors.com%2Fevents-and-presentations%2Fevents-and-presentations%2Fdefault.aspx&eventid=2159844&sessionid=1&key=361C406C7E36A8D535D616715790C80F&regTag=&sourcepage=register

Price Action

52-week high: $61.94

Company's 52-week low was at $33.18

Price action over last quarter: down 4.14%

Company Profile

Molson Coors is the fifth- largest beer producer globally, boasting top-two positioning in the U.S., Canada, and many Central European markets. It brews and markets a slew of company-owned brands including Blue Moon, Coors, Miller Lite, Carling, and Staropramen. It also sells various partner brands in certain locales such as Amstel and Dos Equis in Canada (through an exclusive import/license arrangement with Heineken) and Corona in Central Europe (through an agreement with Anheuser-Busch InBev). The firm's go-to-market approach differs by geography as well, primarily utilizing independent distributors in the U.S., but deploying hybrid models in Canada and Europe.