Molson Coors Beverage Company (TAP) is a leading global beverage company engaged in the manufacturing, marketing, and commercialization of malt-based beverages.
The price of TAP stock during the regular trading on January 19, 2022, was $50.24 with a decline of 2.73%. At last check in the aftermarket, the stock was slightly up by 0.15%.
TAP: Events and Happenings
On January 19, 2022, TAP reported about hosting a webcast of Q4 and Full Year 2021 Earnings Call with analysts and investors on February 23, 2022. The Company’s executive management will participate in the conference call. On November 11, 2021, TAP reported the declaration of regular quarterly dividends for the company’s Class A and B common stock to the shareholders priced at $0.34 per share, due by December 15, 2021.
TAP: Key Financials
On October 28, 2021, TAP announced its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows.
Net Sales
The net sales for Q3 2021 were $2822 million as compared to the same period of 2020 when sales were $2753 million. As a result, the net sales revenue increased 2.5% over the year.
Net Income per Share
Basic and diluted net income per share for Q3 2021 was $453 million or $2.09 (basic) and $2.09 (diluted) per share. For Q3 202 it was $346 million or $1.58 per share.
On October 6, 2021, TAP and HEXO Inc, joint venture Truss CBD reported about the expansion of its product line of cannabinoid-based and adaptogen beverages. The product line is commonly known as Veryvell. On September 16, 2021, TAP reported about its official product distribution expansion to be Topo Chico Hard Seltzer. Topo Chico is the provider of the refreshment and exotic flavors customers liked most.
Conclusion
TAP stock is 15% up the past month primarily due to the company’s important collaborations with leading global brands. The current aftermarket incline in the stock is the consequence of the recent announcement related to the webcasting of the fourth-quarter and full-year earnings conference call. The analysts are suggesting a strong turn out from the company in the fourth quarter.
