Molson Coors reports highest revenue growth in ten years

Molson Coors Liquor Co. TAP,
The stock rose 2.4% in pre-market trading on Thursday after the beer maker reported second-quarter profit and revenue that beat expectations. Net income was $388.6 million, or $1.79 per share, up from $195.0 million or 90 cents per share. Adjusted EPS of $1.58 beat the FactSet consensus at $1.34. Revenue of $3.564 billion was up from $3.030 billion last year and exceeded the FactSet consensus of $2.811 billion. “This quarter represents the best results we’ve had since implementing our revitalization plan nearly two years ago, delivering the most revenue growth of any quarter in more than a decade,” Chief Executive Gavin Hattersley said in a statement. Molson Coors’ brands include Coors Light and Miller Lite beers and Vizzy hard seltzer. Molson Coors stock is up 9.6% so far, while the S&P 500 index SPX,
rose by 17.2% over the period.