What's Going On With Molson Coors Stock Today?

Molson Coors Beverage Company TAP shares are trading higher after the company reported better-than-expected fourth-quarter EPS and sales results.

What to Know: On Tuesday, Molson Coors turned in fourth-quarter and full-year 2022 results. The company also provided guidance for 2023.

Molson Coors reported net sales of $2.63 billion, slightly beating analyst expectations. Molson Coors reported quarterly earnings of $1.30 per share, beating the analyst consensus estimate of $1.07 per share, representing a positive earnings surprise of 21.5%.

The company announced $10.7 billion in net sales and diluted earnings of $4.10 per share for full-year 2022.

Additionally, Molson Coors said it expects low single-digit sales growth throughout 2023 driven by continued inflationary cost pressures and a softer beer industry.

Gavin Hattersley, President and CEO, remarked, “Molson Coors delivered strong results for the year that exceeded our top-line guidance and met our bottom-line guidance for the full year. Our business is healthier today than it has been in many years, and our trajectory is strong.”

For more than two centuries Molson Coors has been brewing beverages that unite people to celebrate all life's moments. It's the fifth-largest beer producer globally.

See Also: Molson Coors Beverage Posts Q4 Earnings Above Street View

According to data from Benzinga Pro, Molson Coors shares were up 4.33%, trading at $54.28 at the time of publication. It has a 52-week high of $60.12 and a 52-week low of $46.69.

Photo: Jon Fingas from Flickr.