Stock Story -
Beer company Molson Coors (NYSE:TAP) will be reporting results tomorrow morning. Here's what to look for.
Molson Coors beat analysts' revenue expectations by 3.7% last quarter, reporting revenues of $2.60 billion, up 10.7% year on year. It was a very strong quarter for the company, with a solid beat of analysts' earnings estimates and a decent beat of analysts' gross margin estimates.
Is Molson Coors a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Molson Coors's revenue to decline 2.6% year on year to $3.18 billion, a reversal from the 11.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.68 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 7 downward revisions over the last 30 days. Molson Coors has missed Wall Street's revenue estimates three times over the last two years.
Looking at Molson Coors's peers in the beverages and alcohol segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Coca-Cola (NYSE:KO) delivered year-on-year revenue growth of 2.9%, beating analysts' expectations by 4.8%, and Constellation Brands (NYSE:STZ) reported revenues up 5.8%, in line with consensus estimates. Coca-Cola traded up 1.6% following the results while Constellation Brands's stock price was unchanged.
Read the full analysis of Coca-Cola's and Constellation Brands's results on StockStory.
There has been positive sentiment among investors in the beverages and alcohol segment, with share prices up 4% on average over the last month. Molson Coors is up 6.2% during the same time and is heading into earnings with an average analyst price target of $60.3 (compared to the current share price of $53.29).
![Molson Coors (TAP) Reports Earnings Tomorrow: What To Expect](https://d68-invdn-com.investing.com/content/pic644ec93d8f98a2879207b84c435bbdd2.jpeg)