TAP FY 2021 Earnings Report — Molson Coors Beverage Company Revenue & Financial Results | Market Cap Arena

Molson Coors Beverage CompanyTAP

FY 2021 Earnings

Reported February 23, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$10.3B	—	$9.7B	—	6.5%
Op. Income	$1.5B	—	-$409M	—	455.7%
Gross Margin	39.4%	—	39.0%	—	0.4pp
Net Margin	9.8%	—	-9.8%	—	19.6pp
EPS (Diluted)	$4.62	—	$-4.36	—	206.0%
Free Cash Flow	$1.1B	—	$1.1B	—	-6.2%

Revenue Flow

Item	Amount
REVENUE	$10.3B
Cost of Revenue	$6.2B
GROSS PROFIT	$4.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.6B
SG&A Expenses	$2.6B
Other Expenses	$45M
Operating Expenses	$2.6B
Cost & Expenses	$8.8B
OPERATING INCOME	$1.5B
Interest Income	$2M
Interest Expense	$262M
Other Income/Expenses	-$215M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$231M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$786M
EBIT	$1.5B
EBITDA	$2.3B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$10.3B
Cost of Revenue	$6.2B
GROSS PROFIT	$4.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.6B
SG&A Expenses	$2.6B
Other Expenses	$45M
Operating Expenses	$2.6B
Cost & Expenses	$8.8B
OPERATING INCOME	$1.5B
Interest Income	$2M
Interest Expense	$262M
Other Income/Expenses	-$215M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$231M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$786M
EBIT	$1.5B
EBITDA	$2.3B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$1.0B
Depreciation & Amortization	$786M
Stock-Based Compensation	$32M
Deferred Income Tax	$231M
Other Non-Cash Items	-$448M
Change in Working Capital	-$36M
OPERATING CASH FLOW	$1.6B
Capital Expenditure	-$523M
Acquisitions (Net)	$26M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$13M
NET CASH FROM INVESTING	-$510M
Net Debt Issuance	-$1.0B
Common Stock Repurchased	$0
Common Dividends Paid	-$148M
Other Financing Activities	-$19M
NET CASH FROM FINANCING	-$1.2B
FREE CASH FLOW	$1.1B
Net Change in Cash	-$133M

Balance Sheet

Item	Amount
Cash & Equivalents	$637M
Short-Term Investments	$0
Net Receivables	$879M
Inventory	$805M
Other Current Assets	$457M
TOTAL CURRENT ASSETS	$2.8B
PP&E (Net)	$4.2B
Goodwill	$6.2B
Intangible Assets	$13.3B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$1.2B
TOTAL NON-CURRENT ASSETS	$24.8B
TOTAL ASSETS	$27.6B
Account Payables	$2.1B
Short-Term Debt	$515M
Deferred Revenue	$0
Other Current Liabilities	$630M
TOTAL CURRENT LIABILITIES	$3.6B
Long-Term Debt	$6.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2.7B
Other Non-Current Liabilities	$981M
TOTAL NON-CURRENT LIABILITIES	$10.3B
TOTAL LIABILITIES	$14.0B
Common Stock	$522M
Additional Paid-In Capital	$7.0B
Retained Earnings	$7.4B
Treasury Stock	-$471M
Accum. Other Comp. Income	-$1.0B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$13.4B
Minority Interest	$247M
TOTAL EQUITY	$13.7B
TOTAL LIABILITIES & EQUITY	$27.6B
Total Debt	$7.2B
Net Debt	$6.6B