Molson Coors Beverage Company (TAP) Q2 2023 Earnings Summary

This article was originally published on Alpha Street

Molson Coors Beverage Company (NYSE: TAP) reported second quarter 2023 earnings results today.

Net sales increased 11.8% year-over-year to $3.26 billion, driven by positive net pricing, favorable sales mix, and higher financial volumes.   

Net sales grew 12.1% in constant currency.

GAAP net income jumped to $342.4 million, or $1.57 per share, from $47.3 million, or $0.22 per share, last year.

Adjusted net income rose 49% to $387.2 million, or $1.78 per share, versus last year.

The company expects net sales to increase in the high single-digits on a constant currency basis in FY2023 compared to FY2022.

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