Global brewer Molson Coors Brewing Company (TAP Quick QuoteTAP - Free Report) came out with fourth-quarter 2017 results, wherein adjusted earnings of 62 cents a share came ahead the Zacks Consensus Estimate of 56 cents and surged 31.9% year-over-year.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has increased by a penny in the past 30 days. In the trailing four quarters (excluding the quarter under review), the company has missed the Zacks Consensus Estimate by an average of 27.8%.

Revenues: Molson Coors generated total revenue of $2,579.6 million that increased 4.5% year over year but came below the Zacks Consensus Estimate of $2,597 million.

Key Events: The company generated synergies and other cost savings of more than $255 million in 2017. Management now anticipates cost savings of $210 million in 2018 and $135 million in 2019.

Molson Coors Brewing Company Price, Consensus and EPS Surprise

 

Molson Coors Brewing Company Price, Consensus and EPS Surprise | Molson Coors Brewing Company Quote

Zacks Rank: Currently, Molson Coors carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.  

Stock Movement: Molson Coors’ shares are up nearly 1.7% during pre-market trading hours following the earnings release.

Check back later for our full write up on Molson Coors earnings report!

Don’t Even Think About Buying Bitcoin Until You Read This

The most popular cryptocurrency skyrocketed last year, giving some investors the chance to bank 20X returns or even more. Those gains, however, came with serious volatility and risk. Bitcoin sank 25% or more 3 times in 2017.

Zacks’ has just released a new Special Report to help readers capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.

See 4 crypto-related stocks now >>