Molson Coors Sees Sales Rise, But Posts 4th Quarter Loss

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Molson Coors Sees Sales Rise, But Posts Fourth Quarter Loss

Molson Coors' fourth quarter net loss was US$590.5 million. (File photo)

Molson Coors posted a fourth-quarter net loss of US$590.5 million on Tuesday, a result that compared with a profit of US$80 million for the same period a year earlier.

The Montreal and Colorado-based company explained that its loss was due to a non-cash goodwill impairment charge of US$845 million in the most recent quarter.

Underlying net earnings were $281.9 million, or US$1.30 per share, for the quarter, which compared to underlying earnings of $176.2 million, or $0. US$81 per share, for the same period in 2021.

Net sales reached US$2.63 billion in the company's most recent quarter, a figure revenue up 0.4% from $2.62 billion a year earlier.

Molson Coors also announced that a dividend quarterly of US$0.41 per share would be paid on March 17 to its shareholders. Its 2022 quarterly dividend was US$0.38 per share.

Molson Coors CEO Gavin Hattersley said his company was healthier than it was. x27;it had not been in several years, and that it was on a solid trajectory.

We delivered a seventh consecutive quarterly increase in our sales on a constant currency basis, fueled by the strength of our core brands and the growth of our superior product portfolio, he argued in a statement Tuesday.

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