Molson Coors Beverage Company delivered fourth-quarter earnings per share of $1.21, surpassing analyst expectations of $1.16. However, the brewer's quarterly revenue of $2.66 billion fell short of the Street consensus forecast of $2.72 billion, representing a 2.7% decline from the prior year period.
The mixed earnings report prompted a sharp market reaction, with the company's stock declining 7.02% in extended trading following the announcement. The revenue underperformance appears to have overshadowed the earnings-per-share beat, signaling investor concern about top-line growth momentum heading into the new fiscal year.
The company's forward guidance also weighed on investor sentiment, with management providing weaker revenue projections that contributed to the sell-off in after-hours trading.