Molson Coors Brewing Company (NYSE:TAP) is expected to report Q2 earnings before market open Tuesday, August 5, with a conference call scheduled for 12:00 p.m. ET.
Analysts are looking for a profit of $1.16 on revenue of $1.76B. The consensus range is $1.08 to $1.20 for EPS, and revenue of $1.72B to $1.79B, according to First Call. A joint venture between Molson Coors and SABMiller cleared regulatory hurdles this quarter and will likely be the focus of investors during the quarterly conference call.
Analysts gave the joint venture mixed reviews: Deutsche Bank reinstated Molson Coors with a Buy from Hold, stating it believes the company can beat its $500M synergy target and sees a value opportunity at current levels. JP Morgan, meanwhile, downgraded the company to Neutral from Overweight, citing execution risks from the joint venture with SABMiller and valuation concerns.