(Montreal) Molson Coors posted a fourth-quarter net loss of $590.5 million on Tuesday, a result that compared with a profit of $80 million for the same period a year earlier.
The brewer said its loss per share was US$2.73 for the quarter ended Dec. 31, compared to earnings per share of 37 cents US for the last three months of 2021.
The Montreal and Colorado-based company said its loss was due to an $845 million non-cash goodwill impairment charge in the most recent quarter.
Underlying net income was US281.9 million, or US$1.30 per share, for the quarter, which compared to underlying income of US176.2 million, or 81 cents US per share, for the same period in 2021.
Net sales reached $2.63 billion in the company’s most recent quarter, up 0.4% from $2.62 billion a year earlier.
Molson Coors also announced that a quarterly dividend of 41 US cents per share would be paid March 17 to its shareholders. Its 2022 quarterly dividend was 38 US cents per share.
Molson Coors CEO Gavin Hattersley said his company was healthier than it had been in several years, and was on a solid path.
“We delivered a seventh consecutive quarterly increase in our sales on a constant currency basis, fueled by the strength of our core brands and the growth of our portfolio of superior products,” he said in a Tuesday statement. statement.
Company in this dispatch: (TSX: TPX.B)