TAP Q3 2021 Earnings Report — Molson Coors Beverage Company Revenue & Financial Results | Market Cap Arena

Molson Coors Beverage CompanyTAP

Q3 2021 Earnings

Reported October 28, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2021	Q2 2021	Q3 2020	QoQ Change	YoY Change
Revenue	$2.8B	$2.9B	—	-4.0%	—
Op. Income	$531M	$581M	—	-8.5%	—
Gross Margin	42.3%	43.3%	—	-1.0pp	—
Net Margin	16.0%	13.2%	—	2.8pp	—
EPS (Diluted)	$2.08	$1.79	—	16.2%	—
Free Cash Flow	$368M	$830M	—	-55.7%	—

Revenue Flow

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.6B
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$665M
SG&A Expenses	$665M
Other Expenses	-$3M
Operating Expenses	$662M
Cost & Expenses	$2.3B
OPERATING INCOME	$531M
Interest Income	$0
Interest Expense	$63M
Other Income/Expenses	-$51M
INCOME BEFORE TAX	$481M
Income Tax Expense	$27M
Net Income from Continuing Ops	$454M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$453M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$453M
D&A	$200M
EBIT	$529M
EBITDA	$729M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.6B
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$665M
SG&A Expenses	$665M
Other Expenses	-$3M
Operating Expenses	$662M
Cost & Expenses	$2.3B
OPERATING INCOME	$531M
Interest Income	$0
Interest Expense	$63M
Other Income/Expenses	-$51M
INCOME BEFORE TAX	$481M
Income Tax Expense	$27M
Net Income from Continuing Ops	$454M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$453M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$453M
D&A	$200M
EBIT	$529M
EBITDA	$729M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$454M
Depreciation & Amortization	$200M
Stock-Based Compensation	$8M
Deferred Income Tax	$27M
Other Non-Cash Items	-$171M
Change in Working Capital	$800.0K
OPERATING CASH FLOW	$519M
Capital Expenditure	-$152M
Acquisitions (Net)	$21M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$22M
NET CASH FROM INVESTING	-$153M
Net Debt Issuance	-$972M
Common Stock Repurchased	$0
Common Dividends Paid	-$74M
Other Financing Activities	$100.0K
NET CASH FROM FINANCING	-$1.0B
FREE CASH FLOW	$368M
Net Change in Cash	-$693M

Balance Sheet

Item	Amount
Cash & Equivalents	$616M
Short-Term Investments	$0
Net Receivables	$992M
Inventory	$807M
Other Current Assets	$506M
TOTAL CURRENT ASSETS	$2.9B
PP&E (Net)	$4.1B
Goodwill	$6.2B
Intangible Assets	$13.3B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$24.7B
TOTAL ASSETS	$27.6B
Account Payables	$3.2B
Short-Term Debt	$560M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$3.8B
Long-Term Debt	$6.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2.6B
Other Non-Current Liabilities	$1.1B
TOTAL NON-CURRENT LIABILITIES	$10.3B
TOTAL LIABILITIES	$14.1B
Common Stock	$522M
Additional Paid-In Capital	$7.0B
Retained Earnings	$7.4B
Treasury Stock	-$471M
Accum. Other Comp. Income	-$1.1B
Other Equity	-$56M
TOTAL STOCKHOLDERS' EQUITY	$13.3B
Minority Interest	$247M
TOTAL EQUITY	$13.5B
TOTAL LIABILITIES & EQUITY	$27.6B
Total Debt	$7.2B
Net Debt	$6.6B