TAP - Embedded Expectations Analysis - 2018 01 30
- Molson Coors Brewing Company (TAP:USA) currently trades near historical highs relative to UAFRS-based (Uniform) Earnings, with a 29.3x Uniform P/E, implying bullish expectations for the firm. Moreover, management is confident about their portfolio, results, and international markets- Specifically, management generated an excitement marker when talking about how they want to build out their portfolio with Sol and Arnold Palmer. Additionally, they are confident in their level of spending being at a level that's appropriate to build their portfolio and drive strong financial performance in the U.S., and in their 0.8% high NSR per hectoliter in the U.S. Furthermore, they are confident that Europe produced strong results during the quarter with an underlying EBITDA at 13.6%, and in their balanced Eastern European product mix
Molson Coors Brewing is a holding company. Through its subsidiaries, the company is a brewer and has a portfolio of brands, including Blue Moon, Coors Banquet, Coors Light, Miller Lite, Staropramen, Carling, Molson Canadian and other brands, as well as craft and specialty beers such as Creemore Springs, Cobra, Doom Bar, Henry's Hard and Leinenkugel's. The company's segments include: MillerCoors LLC operating in the U.S.; Molson Coors Canada operating in Canada; Molson Coors Europe operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the U.K. and various other European countries; and Molson Coors International operating in various other countries.
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