Molson Coors' Cheers To Solid Q2: Surpasses Earnings Estimates, Eyes Continued Growth In 2024
Portfolio Pulse from Nabaparna Bhattacharya
Molson Coors Beverage Company (NYSE:TAP) reported strong Q2 2024 results, surpassing earnings and sales estimates. The company achieved adjusted EPS of $1.92 and net sales of $3.252 billion. Despite a slight decrease in net sales, the company grew its bottom line by 5.2%. Molson Coors declared a dividend of $0.44 per share and returned $564 million to shareholders. The company reaffirmed its outlook for 2024, expecting low single-digit sales growth and mid-single-digit growth in underlying income before taxes.
August 06, 2024 | 4:05 pm
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POSITIVE IMPACT
Molson Coors reported strong Q2 2024 results, beating earnings and sales estimates. The company declared a dividend and returned $564 million to shareholders. Shares are up 7.21% following the news.
The strong Q2 results, including beating earnings and sales estimates, and the declaration of a dividend are positive indicators for investors. The stock price has already reacted positively, increasing by 7.21%. The reaffirmed outlook for 2024 further supports a positive short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100