Molson Coors Beverage Co. reported a net loss US$590.5 million in its latest quarter, down from a profit of US$80 million in the same period a year ago.
The brewer, which reports in U.S. dollars, says its results amounted to a loss of US$2.73 per diluted share in the fourth quarter, compared with a profit of 37 cents a share in the same quarter last year.
The Colorado and Montreal-based company says the loss was due to a non-cash US$845-million partial goodwill impairment charge during the three months ended Dec. 31.
Molson Coors says its underlying net income was US$281.9 million or US$1.30 per diluted share during the quarter, compared with US$176.2 million or 81 cents a share in the same period of 2021.
Net sales were US$2.63 billion in the company's latest quarter, up 0.4 per cent from US$2.62 billion a year ago.
The company also declared a quarterly dividend of 41 cents per share to be paid on March 17 compared with the quarterly payments of 38 cents per share it made in 2022.
- This report by The Canadian Press was first published in French on Feb. 21, 2023
