Molson Coors Sees Sales Rise, But Posts 4th 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.
