Welcome to our dedicated page for Molson Coors Beverage Company news (Ticker: TAP.A), a resource for investors and traders seeking the latest updates and insights on Molson Coors Beverage Company stock.
The Molson Coors Beverage Company is a multinational drink and brewing company formed in 2005 through the merger of Molson of Canada and Coors of the United States. Headquartered in Chicago, Illinois, Molson Coors owns popular beer brands like Miller, Coors, Blue Moon, and Carling. It ranks as the second-largest beer maker in the US, Canada, and the UK. The company also brews and distributes partner brands through licensing agreements with Heineken, Anheuser-Busch InBev, Asahi, and Coca-Cola. With a focus on North America, Molson Coors continues to expand its market presence.
Truss CBD USA, a joint venture between Molson Coors and HEXO Corp, has expanded its Veryvell line of hemp-derived CBD beverages to 17 states across the U.S. after a successful launch in Colorado. Veryvell offers non-alcoholic, adaptogenic sparkling waters and beverage drops with broad spectrum hemp and less than 0.3% THC. The drinks, available online and in select stores, feature three flavors: Focus, Mind & Body, and Unwind, each infused with 20mg of CBD. This expansion reflects Molson Coors' strategy to diversify beyond beer.
Molson Coors Beverage Company (NYSE: TAP, TAP.A) will host a webcast on October 28, 2021 for its 2021 Third Quarter Earnings Conference Call. The call, featuring executives including Gavin Hattersley (CEO) and Tracey Joubert (CFO), will begin at 11:00 a.m. ET, following an earnings release at 7:00 a.m. ET. The webcast can be accessed via the Investor Relations page at molsoncoors.com. A replay will be available post-call until February 23, 2022.
Molson Coors Beverage Company announced the nationwide expansion of Topo Chico® Hard Seltzer, set for January 2022. Previously available in nine states, this popular hard seltzer will now reach all 50 states, responding to consumer demand. The offering features a four-flavor variety pack: Strawberry Guava, Tangy Lemon Lime, Exotic Pineapple, and Tropical Mango. This move follows a successful regional launch, indicating strong market interest. Molson Coors remains committed to innovation and expanding its beverage portfolio beyond traditional beer.
Molson Coors Beverage Company (TAP) reported strong second quarter results for 2021, with net sales revenue up 17.4% to $2.94 billion and net income rising 99.3% to $388.6 million. Financial volumes grew 5.5%, aided by a 1.9% increase in North America and 17.8% in Europe. Net sales per hectoliter increased 5.0%, with above premium brand volumes hitting record highs. However, underlying EBITDA decreased 1.3% and marketing expenses rose 30.0%. The company plans to continue investments and has reinstated dividends while maintaining a focus on deleveraging.
Molson Coors Beverage Company (NYSE: TAP, TAP.A) has announced the reinstatement of regular quarterly dividends, declaring US$0.34 per share, payable on September 17, 2021. This decision follows the full repayment of $1 billion in senior notes due July 15, 2021. The company reaffirms its 2021 financial guidance, expecting a mid-single digit increase in net sales revenue and aiming for a net debt to EBITDA ratio of approximately 3.25x by year-end. The dividend was previously suspended in May 2020 due to the pandemic's uncertainties.
Molson Coors Beverage Company (NYSE: TAP, TAP.A) will host its 2021 Second Quarter Earnings Conference Call on July 29, 2021, at 11:00 a.m. Eastern Time. Earnings will be released at 7:00 a.m. the same day. Company executives, including CEO Gavin Hattersley and CFO Tracey Joubert, will participate in the call. The webcast can be accessed on the Investor Relations page of their website, with a replay available for two months following the event.
Molson Coors Beverage Company (NYSE: TAP; TSX: TPX) released its 2021 ESG report, emphasizing a renewed strategy centered on Diversity, Equity and Inclusion and environmental stewardship. The People pillar aims to increase U.S. representation of people of color by 25% and enhance women's roles by 2023. Environmentally, the company focuses on Water, Climate and Packaging, reporting a 3% reduction in water-to-beer ratio and aiming for 50% reduction in emissions by 2025. Key initiatives include using green electricity and achieving 100% reusable packaging by 2025.
The Molson Coors Beverage Company (NYSE: TAP; TSX: TPX) has appointed Eric Gunning as Corporate Secretary, alongside his existing role as Deputy Chief Legal Officer. Gunning, who has been with the company for nine years, has held multiple legal and compliance positions, highlighting his significance to the organization. The announcement comes from Lee Reichert, the current Corporate Secretary, emphasizing Gunning's invaluable contributions to the Board of Directors.
Molson Coors Beverage Company (NYSE: TAP, TAP.A) reported a 9.7% decline in net sales revenue for Q1 2021, totaling $1.90 billion, impacted by decreased volumes in North America and Europe. U.S. GAAP net income was $84.1 million ($0.39 per share), while underlying EBITDA fell 20.2% to $280 million. CEO Gavin Hattersley noted progress in their revitalization plan despite challenges like a cybersecurity incident and pandemic-related restrictions. The company anticipates a mid-single-digit revenue increase and plans to reinstate dividends in H2 2021, focusing on debt reduction and investment.
TRU Colors Brewery has partnered with Molson Coors Beverage Company (NYSE: TAP) to accelerate its brand growth and distribution. Established in 2019, TRU Colors aims to address street violence by employing active gang members and promoting economic equity. The partnership involves equity investment from Molson Coors, which will aid in distribution, marketing, and product development. TRU Colors plans to launch its first product, TRU Light, a lager, in summer 2021, with aspirations for nationwide distribution. The brewery's facility in Wilmington, NC, is set to produce over 1 million cases annually.