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Shares of Molson Coors Beverage Company (TAP) jumped over 5% Tuesday after the brewing giant reported better-than-expected sales and profits for the second quarter. The company said an increase in net pricing and positive sales mix boosted its performance.

Molson Coors Beverage Company (NYSE:TAP ) Q2 2024 Earnings Conference Call August 6, 2024 8:30 AM ET Company Participants Traci Mangini - Vice President, Investor Relations Gavin Hattersley - President and CEO Tracey Joubert - CFO Conference Call Participants Bonnie Herzog - Goldman Sachs Drew Levine - JPMorgan Bill Kirk - ROTH Capital Partners Rob Ottenstein - Evercore Chris Carey - Wells Fargo Victor Ma - TD Cowen Bryan Spillane - Bank of America Michael Lavery - Piper Sandler Lauren Lieberman - Barclays Eric Serotta - Morgan Stanley Operator Good day, and welcome to the Molson Coors Beverage Company Second Quarter Earnings Conference Call. With that, I'll hand over to Traci Mangini, Vice President, Investor Relations.

Molson Coors' (TAP) Q2 results reflect gains from favorable pricing and the U.S. shipment timing, offset by a decline in the contract brewing volumes.

Molson Coors Beverage Co (NYSE:TAP), the owner of Coors Light, Miller Lite and Carling, saw net income improve 23% year on year to $425.3 million in the three months to 30 June. Lower operating costs helped to support the bottom line despite sales of $3.8 billion coming in slightly lower than the second quarter of 2023.

While the top- and bottom-line numbers for Molson Coors (TAP) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Molson Coors Brewing (TAP) came out with quarterly earnings of $1.92 per share, beating the Zacks Consensus Estimate of $1.68 per share. This compares to earnings of $1.78 per share a year ago.

Celsius stock, Molson Coors shares jump after the beverage producers beat estimates early Tuesday.

Molson Coors beat Wall Street expectations for second-quarter sales and profit on Tuesday, driven by strong demand for its premium Coors Light and Miller Lite beers in the European and Asian regions.

Molson Coors Beverage Co. stock TAP, -3.33% is up 2.7% in premarket trades Tuesday after the beer maker reported better-than-expected second-quarters sales and earnings. Molson Coors said its second-quarter net income rose to $427 million, or $2.03 a share, from $342.4 million, or $1.57 a share, in the prior year's quarter.

This marks the last peak week of the Q2 earnings season with 3,908 companies expected to report. Earnings have come in better-than-expected, but tend to be overshadowed by economic data. Outlier earnings this week include: CSX, CAT, and VFC.