Molson Coors Brewing misses by $0.14, reports beat on revs
Reports Q4 (Dec) earnings of $0.55 per share, excluding non-recurring items, $0.14 worse than the Capital IQ Consensus Estimate of $0.69; revenues fell 5.3% year/year to $973.8 mln vs the $966.6 mln consensus.
- Co announces a new share repurchase program of up to $1.0 bln of Class A and Class B Common stock, with an expected term of four years, which replaces all prior stock repurchase programs. Co anticipates that the stock repurchases will be weighted toward the last two years of the program.
- Co also raises quarterly dividend by 11% to $0.41 from $0.37 per share. New yield is 2.1%.
- "Overall, 2014 was a good year for Molson Coors....Weak consumer demand continued across our largest markets, but we made good progress in building a stronger brand portfolio, delivering value-added innovation, strengthening our core brand positions, and increasing our share in above premium."