Molson Coors Brewing (TAP) came out with quarterly earnings of $0.84 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 7.69%. A quarter ago, it was expected that this beer maker would post earnings of $1.57 per share when it actually produced earnings of $1.84, delivering a surprise of 17.20%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Molson Coors, which belongs to the Zacks Beverages – Alcohol industry, posted revenues of $2.42 billion for the quarter ended December 2018, missing the Zacks Consensus Estimate by 3.75%. This compares to year-ago revenues of $2.58 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
Molson Coors shares have added about 16.4% since the beginning of the year versus the S&P 500’s gain of 8.1%.
Molson Coors Brewing Co. shares were trading at $59.46 per share on Tuesday morning, down $5.90 (-9.03%). Year-to-date, TAP has gained 5.88%, versus a 9.58% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of Yahoo Finance.