Canadian Manufacturing

Molson Coors reports US$163.7M Q4 profit, sales edge higher from year ago

The increase came as U.S. net sales rose 4.7% compared with year ago, but fell 4.6% in Canada



MONTREAL — Molson Coors Beverage Co. reported a fourth-quarter profit of US$163.7 million, up from US$76.0 million in the same quarter a year earlier.

The brewer, which keeps its books in U.S. dollars, says the profit amounted to 75 cents per share for the quarter ended Dec. 31, compared with a profit of 35 cents per share in the fourth quarter of 2018.

Net sales totalled nearly US$2.49 billion, up from nearly US$2.42 billion.

The increase came as U.S. net sales rose 4.7% compared with year ago, but fell 4.6% in Canada. European net sales rose 1.1%, while the international segment climbed 7.5%.

Molson Coors says its underlying profit for the quarter amounted to US$221.5 million or US$1.02 per share compared with an underlying profit of US$182.3 million or 84 cents per share in the same period a year earlier.

Analysts on average had expected an adjusted profit of 78 cents per share, according to financial markets data firm Refinitiv.

News from © Canadian Press Enterprises Inc. 2020

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