Molson Coors will file its Q4 and FY earnings on 11 February

Molson Coors will file its Q4 and FY earnings on 11 February

Molson Coors has raised estimated cashflow for its fourth quarter, however sales are expected to come in lower than the year prior. 

In a preliminary filing, issued yesterday, the brewer raised underlying free cash flow guidance to US$690m-$720m, following a "better-than-expected" Q4. Previous guidance was set at $550m to $605m. 

The company said working capital changes, including lower cash taxes, as well as lower capital expenditures and higher distributions from MillerCoors contributed to a better fourth quarter. 

However, the brewer said estimated sales would be about $830m-$860m. This was primarily due to unfavourable foreign currency movements, Molson Coors said. In its 2014 Q4 results, the company saw net profits tumble by 31% to $94.1m, as sales declined 5% to $973.8m.

Underlying after-tax profit is expected to be approximately $85m to $95m. 

At the same time as the preliminary filing, Molson Coors set out plans to raise almost US$2.4bn to help fund the purchase of SABMiller's interest in MillerCoors.

The company will file its Q4 and FY earnings on 11 February.