TAP FY 2023 Earnings Report — Molson Coors Beverage Company Revenue & Financial Results | Market Cap Arena

Molson Coors Beverage CompanyTAP

FY 2023 Earnings

Reported February 20, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$11.7B	—	—	—	—
Op. Income	$1.4B	—	—	—	—
Gross Margin	37.3%	—	—	—	—
Net Margin	8.1%	—	—	—	—
EPS (Diluted)	$4.37	—	—	—	—
Free Cash Flow	$1.4B	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$11.7B
Cost of Revenue	$7.3B
GROSS PROFIT	$4.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.8B
SG&A Expenses	$2.8B
Other Expenses	$151M
Operating Expenses	$2.9B
Cost & Expenses	$10.3B
OPERATING INCOME	$1.4B
Interest Income	$25M
Interest Expense	$229M
Other Income/Expenses	-$186M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$296M
Net Income from Continuing Ops	$956M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$949M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$949M
D&A	$683M
EBIT	$1.5B
EBITDA	$2.2B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$11.7B
Cost of Revenue	$7.3B
GROSS PROFIT	$4.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.8B
SG&A Expenses	$2.8B
Other Expenses	$151M
Operating Expenses	$2.9B
Cost & Expenses	$10.3B
OPERATING INCOME	$1.4B
Interest Income	$25M
Interest Expense	$229M
Other Income/Expenses	-$186M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$296M
Net Income from Continuing Ops	$956M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$949M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$949M
D&A	$683M
EBIT	$1.5B
EBITDA	$2.2B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$949M
Depreciation & Amortization	$683M
Stock-Based Compensation	$45M
Deferred Income Tax	$296M
Other Non-Cash Items	$26M
Change in Working Capital	$80M
OPERATING CASH FLOW	$2.1B
Capital Expenditure	-$672M
Acquisitions (Net)	-$64M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$107M
NET CASH FROM INVESTING	-$842M
Net Debt Issuance	-$398M
Common Stock Repurchased	-$206M
Common Dividends Paid	-$355M
Other Financing Activities	-$23M
NET CASH FROM FINANCING	-$981M
FREE CASH FLOW	$1.4B
Net Change in Cash	$269M

Balance Sheet

Item	Amount
Cash & Equivalents	$869M
Short-Term Investments	$0
Net Receivables	$879M
Inventory	$802M
Other Current Assets	$298M
TOTAL CURRENT ASSETS	$2.8B
PP&E (Net)	$4.4B
Goodwill	$5.3B
Intangible Assets	$12.6B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$23.5B
TOTAL ASSETS	$26.4B
Account Payables	$2.0B
Short-Term Debt	$912M
Deferred Revenue	$0
Other Current Liabilities	$646M
TOTAL CURRENT LIABILITIES	$4.1B
Long-Term Debt	$5.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2.7B
Other Non-Current Liabilities	$838M
TOTAL NON-CURRENT LIABILITIES	$8.8B
TOTAL LIABILITIES	$12.9B
Common Stock	$455M
Additional Paid-In Capital	$7.1B
Retained Earnings	$7.5B
Treasury Stock	-$736M
Accum. Other Comp. Income	-$1.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$13.2B
Minority Interest	$239M
TOTAL EQUITY	$13.4B
TOTAL LIABILITIES & EQUITY	$26.4B
Total Debt	$6.3B
Net Debt	$5.4B