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Consumer Goods | Beverages - Brewers | USA
Molson Coors Slides After 'Material Weakness' in Past Reports Clouds Q4 Beat
Molson Coors Brewing posted stronger-than-expected fourth quarter profits Tuesday but noted that "material weakness" in the way it accounted for tax liabilities in statements from 2016 and 2017 will mean a collective $247.7 million hit to retained earnings for the 2017 year.
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Molson said underlying non-GAAP earnings for the three months ending in December came in at 84 cents per share, up 35.5% from the same period last year and 4 cents ahead of the Street consensus. Group revenues, Molson Coors said, fell 6.2% to $2.419 billion, narrowing missing analysts' forecasts of $2.54 billion, as weaker U.S. demand hit global beer volumes.
Looking into 2019, Molson Coors said its sees underlying free-cash flow of around $1.4 billion, plus or minus 10%, and added $450 million in new cost cuts to its current $7000 million savings plan over the next three years. The company also reiterated its plan to reinstitute a dividend payout-ratio in the range of 20-25% of annual trailing earnings by the middle of this year.
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https://www.thestreet.com/investing/earn...yptr=yahoo
![[Bild: TAPc1dl1607.png]](https://finviz.com/publish/021219/TAPc1dl1607.png)
Molson Coors Slides After 'Material Weakness' in Past Reports Clouds Q4 Beat
Molson Coors Brewing posted stronger-than-expected fourth quarter profits Tuesday but noted that "material weakness" in the way it accounted for tax liabilities in statements from 2016 and 2017 will mean a collective $247.7 million hit to retained earnings for the 2017 year.
...
Molson said underlying non-GAAP earnings for the three months ending in December came in at 84 cents per share, up 35.5% from the same period last year and 4 cents ahead of the Street consensus. Group revenues, Molson Coors said, fell 6.2% to $2.419 billion, narrowing missing analysts' forecasts of $2.54 billion, as weaker U.S. demand hit global beer volumes.
Looking into 2019, Molson Coors said its sees underlying free-cash flow of around $1.4 billion, plus or minus 10%, and added $450 million in new cost cuts to its current $7000 million savings plan over the next three years. The company also reiterated its plan to reinstitute a dividend payout-ratio in the range of 20-25% of annual trailing earnings by the middle of this year.
...
https://www.thestreet.com/investing/earn...yptr=yahoo
