Molson Coors Beverage Company (NYSE: TAP, TAP.A) has announced a new centralized commercial function aimed at accelerating growth across its Americas business unit. Following a decade of stagnation, the company reported its first top- and bottom-line growth in 2022. The new structure will unify sales, marketing, and innovation under one strategy to enhance focus on the non-alcohol and spirits portfolios. Michelle St. Jacques has been appointed Chief Commercial Officer to lead this initiative, emphasizing collaboration and faster decision-making. Overall, the company aims to build on its recent successes and continue scaling its emerging brands.
Molson Coors Beverage Company reported its fourth quarter and full year 2022 financial results, showing a 0.4% increase in net sales to $2.63 billion. Underlying net income rose 59.3% on a constant currency basis. However, the company incurred a $670 million net loss due to an $845 million partial goodwill impairment charge. Despite these challenges, the company anticipates continued growth in 2023, projecting low single-digit increases in net sales and income. Additionally, it reported a reduction in net debt by $562.4 million and plans to return $1.0 billion in underlying free cash flow to shareholders.
Molson Coors Beverage Company (NYSE: TAP, TAP.A) will host a webcast for its 2022 Fourth Quarter and Full Year Earnings Conference Call on February 21, 2023, at 11:00 a.m. ET. Earnings will be released at approximately 7:00 a.m. ET the same day. Participating executives include Gavin Hattersley, CEO, and Tracey Joubert, CFO. Investors can access the webcast via the company’s Investor Relations page. An online replay will be available shortly after the call and accessible until May 1, 2023.
Molson Coors Beverage Company has launched Roxie, a zero-proof canned cocktail, aimed at consumers participating in Dry January. This new product marks the company’s first direct-to-consumer line in the non-alcoholic beverage space. Roxie offers three flavors: Ripe with Passionfruit, Forbidden Pineapple, and Lost in Mango. Data suggests the non-alcoholic beverage market is expected to grow by 27.6% among young adults. Available for purchase online, Roxie is designed to attract a new generation of drinkers.
The Board of Directors of Molson Coors Beverage Company (NYSE: TAP, TAP.A) has declared a quarterly dividend of US$0.38 per share, payable on December 15, 2022, to stockholders of record on December 2, 2022. A similar dividend of approximately CDN$0.50 will be issued by Molson Coors Canada Inc. (TSX: TPX.A, TPX.B) on the same dates. The company's portfolio includes iconic brands like Coors Light and Miller Lite, and it operates in significant global markets, reflecting a robust and diverse beverage strategy.
Molson Coors Beverage Company reported its 2022 third quarter earnings, achieving a 4.0% increase in net sales, reaching $2.935 billion. Adjusted net income came in at $216.4 million, translating to $0.99 per diluted share. The company continues to navigate global inflationary pressures, reaffirming its financial guidance for the year, while underlying income before taxes declined 5.0% on a GAAP basis. Premiumization efforts in their portfolio contributed to a 7.9% growth in constant currency sales, although U.S. GAAP income before taxes dropped 43.2%.
Molson Coors Beverage Company (NYSE: TAP) will hold its 2022 Third Quarter Earnings Conference Call on November 1, 2022, at 11:00 a.m. ET. The earnings will be released at approximately 7:00 a.m. ET on the same day. Executives such as Gavin Hattersley, CEO, and Tracey Joubert, CFO, will participate in the call. The webcast will be available on the company’s Investor Relations page and an online replay will be accessible until February 20, 2023.
Molson Coors Beverage Company reported its 2022 Q2 financial results, showcasing a 0.6% decrease in net sales but a 2.2% increase in constant currency. The company's net income fell to $47.3 million, with diluted EPS at $0.22, a significant decline from the previous year. Positive pricing strategies contributed to a 7.1% increase in net sales per hectoliter. The revitalization plan is showing progress with market share growth in the U.S. and Canada. The company reaffirms guidance for mid-single digit top-line growth and high single-digit bottom-line growth for 2022.
The Board of Directors of Molson Coors Beverage Company has declared a quarterly dividend of US$0.38 per share on its Class A and Class B common stock, payable on September 15, 2022, to shareholders of record as of September 2, 2022. Additionally, Molson Coors Canada Inc. has announced a quarterly dividend of approximately CDN$0.49, equivalent to the US dividend, also payable on the same dates. These dividends reflect the company's ongoing commitment to returning value to its shareholders.
Molson Coors Beverage Company will host a 2022 Second Quarter Earnings Conference Call on August 2, 2022, at 11:00 a.m. ET. The earnings release will occur at 7:00 a.m. ET on the same day. Executives, including Gavin Hattersley (CEO) and Tracey Joubert (CFO), will participate in the call. Investors can access the webcast on the Investor Relations page of Molson Coors' website and a replay will be available until October 31, 2022.