Molson Coors Beverage (TAP) Q4 FY2021 earnings: revenue $3.2 billion, up 15.0% on the year

Molson Coors Beverage Co. (TAP) reported revenue of $3.2 billion for Q4 FY2021, the quarter ended 31 December 2021, up 15.0% on the same quarter a year earlier. Net income was $80 million, and diluted earnings per share $0.36. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2022.

Revenue$3.2 billionup 15.0%

Net income$80 million

Diluted EPS$0.36

QuarterQ4 FY2021ended 31 December 2021

The quarter, against the one before and a year earlier

Line	Q4 FY2021	Q3 FY2021	A year earlier	Change on the year
Revenue	3,194	3,435	n/a	n/a
Cost of revenue	1,762	1,629	n/a	n/a
Gross profit	857	1,194	n/a	n/a
Gross margin	26.8%	34.7%	n/a
Selling, general and administrative	665	665	n/a	n/a
Operating income	165	531	n/a	n/a
Operating margin	5.2%	15.5%	n/a
Interest expense	60.3	62.1	n/a	n/a
Pre-tax income	110	481	n/a	n/a
Income tax	27.1	26.8	n/a	n/a
Effective tax rate	24.7%	5.6%	n/a
Net income	80.0	453	n/a	n/a
Net margin	2.5%	13.2%	n/a
Diluted EPS	$0.36	$2.08	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2021	Q3 FY2021	A year earlier	Change on the year
Operating cash flow	306	519	n/a	n/a
Capital expenditure	159	152	n/a	n/a
Free cash flow	147	368	n/a	n/a
Free cash flow margin	4.6%	10.7%	n/a
Cash from investing	-157	-153	n/a	n/a
Cash from financing	-123	-1,046	n/a	n/a
Depreciation and amortisation	182	200	n/a	n/a
Share-based compensation	7.4	8.2	n/a	n/a
Buybacks	0.0	0.0	n/a	n/a
Dividends paid	73.9	73.7	n/a	n/a
Diluted shares, weighted	218m	218m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2021	Q3 FY2021	A year earlier	Change on the year
Shareholders' equity	13,417	13,276	n/a	n/a
Non-controlling interest	247	247	n/a	n/a
Debt	7,139	7,221	n/a	n/a
Operating lease liabilities	87.8	94.1	n/a	n/a
Finance lease liabilities	62.6	62.9	n/a	n/a
Other liabilities	6,666	6,743	n/a	n/a
Total liabilities and equity	27,619	27,644	n/a	n/a
Goodwill	6,153	6,152	n/a	n/a
Intangible assets	13,287	13,346	n/a	n/a
Cash and equivalents	637	616	n/a	n/a
Receivables	663	808	n/a	n/a
Inventory	805	806	n/a	n/a
Other assets	6,075	5,915	n/a	n/a
Total assets	27,619	27,644	n/a	n/a

Questions

What was Molson Coors Beverage's revenue in Q4 FY2021?

Molson Coors Beverage (TAP) reported revenue of $3.2 billion for Q4 FY2021, the quarter ended 31 December 2021, up 15.0% on the same quarter a year earlier.

How much did Molson Coors Beverage earn in Q4 FY2021?

Net income for Q4 FY2021 was $80 million, and diluted earnings per share $0.36.

When did Molson Coors Beverage report Q4 FY2021 results?

Molson Coors Beverage filed its 10-K for the year that ended with the quarter on 23 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q3 FY2021	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	3,435	3,194	2,643	3,501	3,517	3,145	2,775	3,871	3,906	3,333	3,049	3,838	3,603	3,244	2,690	3,740	3,484	3,126	2,718	3,604
Cost of revenue	1,629	1,762	1,287	2,102	1,952	1,706	1,576	2,048	1,952	1,758	1,633	1,922	1,840	1,698	1,453	1,919	1,800	1,694	1,454	2,033
Gross profit	1,194	857	928	820	984	924	771	1,219	1,346	1,033	964	1,330	1,202	1,038	851	1,282	1,174	968	897	1,063
Gross margin	35%	27%	35%	23%	28%	29%	28%	31%	34%	31%	32%	35%	33%	32%	32%	34%	34%	31%	33%	30%
SG&A	665	665	676	708	660	576	615	735	747	683	655	728	685	650	653	693	687	611	610	718
Operating income	531	165	224	114	330	-512	158	488	592	199	314	600	451	388	186	584	-3,431	324	258	332
Operating margin	15%	5%	8%	3%	9%	-16%	6%	13%	15%	6%	10%	16%	13%	12%	7%	16%	-98%	10%	10%	9%
Interest expense	62.1	60.3	62.2	65.0	57.8	57.9	59.7	58.7	55.6	54.3	55.4	57.8	106	63.1	61.3	61.6	62.7	62.3	60.2	68.8
Pre-tax income	481	110	174	54.9	273	-564	102	441	544	166	265	560	331	346	156	555	-3,496	266	195	283
Tax rate	6%	25%	21%	13%	20%	n/a	28%	22%	21%	36%	21%	24%	31%	15%	21%	24%	n/a	21%	23%	22%
Net income	453	80.0	152	47.3	216	-590	72.5	342	431	103	208	427	200	288	121	429	-2,928	238	151	232
Net margin	13%	3%	6%	1%	6%	-19%	3%	9%	11%	3%	7%	11%	6%	9%	4%	11%	-84%	8%	6%	6%
Diluted EPS	$2.08	$0.36	$0.70	$0.22	$0.99	-$2.72	$0.33	$1.57	$1.98	$0.48	$0.97	$2.03	$0.96	$1.39	$0.59	$2.13	-$14.79	$1.22	$0.80	$1.23
Operating cash flow	519	306	-119	786	451	384	3.4	891	710	474	25.4	869	521	494	-90.7	718	616	541	2.5	818
Capital expenditure	152	159	244	145	142	131	181	154	159	177	215	178	171	111	237	163	133	183	232	104
Free cash flow	368	147	-363	641	309	254	-178	737	551	297	-189	692	350	383	-328	555	483	358	-229	714
Buybacks	0.0	0.0	14.1	12.1	12.6	12.7	14.6	12.1	34.2	145	114	262	62.1	206	59.6	247	26.0	315	168	42.5
Dividends paid	73.7	73.9	82.4	82.5	82.2	82.2	89.5	88.7	88.5	88.0	96.8	91.6	91.0	89.8	99.2	93.5	93.0	90.6	93.6	90.1
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 23 February 2022: the filing.