- Molson Coors Beverage Co (NYSE:TAP) reported fourth-quarter FY21 sales growth of 14.2% year-on-year, to $2.62 billion, beating the consensus of $2.55 billion.
- Net sales in the Americas rose 7.6% Y/Y, and EMEA & APAC gained 56.4%.
- Gross profit fell 4.2% Y/Y to $857.3 million. The operating margin was 6.3%, and operating income for the quarter was $165 million versus $(1.28) billion last year.
- Related: Hard Lemonade Coming From Coca-Cola: What Investors Should Know About Beverage Giant's Continued Push Into Alcohol
- Adjusted EPS of $0.81 missed the consensus of $0.85.
- Underlying EBITDA of $457.3 million increased 21.9% Y/Y.
- Molson Coors Beverage held $637.4 million in cash and equivalents as of December 31, 2021. Cash provided by operating activities for twelve months amounted to $1.6 billion.
- The company raised the quarterly dividend by 12% to $0.38 from $0.34 per share, payable March 18, 2022, to shareholders of record on March 7, 2022.
- Outlook: Molson expects FY22 sales to have mid-single-digit growth on a constant currency basis.
- Price Action: TAP shares traded higher by 4.96% at $51.00 on the last check Wednesday.
