Healthier US Beer Category & Favorable Pricing Help Molson Coors Beverage: Read How
Portfolio Pulse from Shivani Kumaresan
Molson Coors Beverage Company (NYSE:TAP) reported Q3 FY23 sales growth of 12.4% YoY to $3.30 billion, beating the analyst consensus estimate of $3.24 billion. The revenue increase was driven by favorable price and sales mix, higher financial volumes, and favorable foreign currency impacts. The company reaffirmed FY23 net sales guidance of high single-digit increase versus 2022 on a constant currency basis. TAP shares traded lower by 2.61% at $56.68 on the last check Thursday.
November 02, 2023 | 3:47 pm
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Molson Coors reported strong Q3 FY23 results with sales growth of 12.4% YoY, beating estimates. Despite the positive earnings, TAP shares traded lower by 2.61%.
Molson Coors reported strong Q3 FY23 results, beating analyst estimates. This is generally a positive signal for the company's stock. However, despite the positive earnings report, TAP's stock price fell by 2.61%. This could be due to a variety of factors, including market sentiment, broader market trends, or investor expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100