Molson Coors tumbles after cutting jobs and missing quarterly forecasts
stock sank as much as 5% on Wednesday after the beverage company missed analysts estimates for third-quarter earnings and revenue.a revitalization plan alongside the earnings report, estimating it will unlock $150 million in savings by 2022.
"We can continue down the path we've been on for several years now, or we can make the significant and difficult changes necessary to get back on the right track," Hattersley said.Adjusted earnings per share:24.7 hectoliters, down 2.4% from the year-ago period The new company strategy also brings a slight name change, with Molson Coors Beverage Company replacing its current name, Molson Coors Brewing Company.
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