Molson Coors Q2 2020 Earnings Report
Key Takeaways
Molson Coors reported a decrease in net sales revenue by 15.1% and a decrease in U.S. GAAP net income of 40.8%. However, non-GAAP EPS increased by 2.0%. The company is taking steps to mitigate the short-term business challenges of the coronavirus and position the business for long-term success.
Net sales decreased 15.1% due to on-premise closures from coronavirus.
U.S. GAAP net income decreased 40.8% to $195 million.
Non-GAAP EPS increased 2.0% to $1.55.
Underlying EBITDA increased 2.2% in constant currency to $692 million.
Molson Coors
Molson Coors
Molson Coors Revenue by Segment
Forward Guidance
Molson Coors withdrew its financial outlook for 2020 and beyond due to the unpredictability of the market. The company anticipates a significant adverse impact to both net sales and profit performance for the third quarter and fiscal year 2020, and, possibly, beyond.