Stock Alert: Molson Coors Beverage Co. (TAP) Shares Rise On Upbeat Q4

(RTTNews) - Shares of Molson Coors Beverage Co. (TAP) are rising after the company reported better-than-expected Q4 results. The stock has been trading in a range of $49.82 - $64.32 in the past one year.

The company reported fourth-quarter underlying income per share of $1.02 compared to $0.84, prior year. On average, 13 analysts polled by Thomson Reuters expected the company to report earnings per share of $0.78, for the quarter. Analysts' estimates typically exclude certain special items. Underlying EBITDA increased 15.8% on a constant currency basis.

Fourth-quarter net sales improved to $2.49 billion from $2.42 billion, last year. Analysts expected revenue of $2.48 billion for the quarter. Worldwide brand volume was 21.8 million hectoliters, down 1.0%, primarily driven by lower economy volumes in the U.S. and weakened performance in Canada, partially offset by growth in International.

For full year 2020, the company expects: underlying EBITDA to decline high-single digit, on a constant currency basis; and net sales revenue to be flat to low-single digit decrease on a constant currency basis.