Welcome to our dedicated page for Molson Coors Beverage news (Ticker: TAP), a resource for investors and traders seeking the latest updates and insights on Molson Coors Beverage stock.
Molson Coors Beverage Company reports developments tied to a global beverage portfolio rooted in beer and expanding into flavored alcoholic beverages, ready-to-drink cocktails, spirits and non-alcoholic beverages. Its brand references include Coors Light, Miller Lite, Coors Banquet, Molson Canadian, Carling, Ožujsko, Blue Moon Belgian White, Madrí Excepcional, Staropramen, Leinenkugel’s Summer Shandy, Vizzy Hard Seltzer, Simply Spiked and Monaco Cocktails.
Recurring news covers quarterly and annual results across the Americas and EMEA&APAC segments, volume and cost trends, guidance, dividends on Class A and Class B common stock, share repurchase activity, product launches, partner-brand arrangements and portfolio additions such as the completed Atomic Brands acquisition.
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Molson Coors Beverage Company (NYSE: TAP, TAP.A) will host a 2023 First Quarter Earnings Conference Call on May 2, 2023, at 11:00 a.m. ET. Earnings will be released at approximately 7:00 a.m. ET on the same day. Company executives, including Gavin Hattersley and Tracey Joubert, will participate in the call. The conference call will be accessible via the Investor Relations page on the Molson Coors website, with a replay available until July 31, 2023. Molson Coors has a rich history in brewing beverages and operates in the Americas and EMEA&APAC segments.
On March 21, 2023, Molson Coors announced the launch of Simply Spiked™ Peach, introducing four new flavors: Signature Peach, Mango Peach, Strawberry Peach, and Kiwi Peach. In celebration, comedian Ron Funches will partner in a campaign called 'Juicy Calls,' allowing fans in select cities to text a peach emoji for a chance to receive a delivery of the new flavors. Simply Spiked Peach features 5% real fruit juice and 5% ABV, available in 12-packs and 24oz cans. The promotional campaign runs from March 24-26, 2023, with limited availability. Fans outside select areas can enter for a gift card for a 12-pack. This product marks the latest collaboration between Molson Coors and The Coca-Cola Company.
Simply Spiked™ is launching a new line of peach-flavored alcoholic beverages, Simply Spiked™ Peach, following the success of Simply Spiked Lemonade™, which sold 3.5 million cases since its 2022 release. The new flavors, inspired by consumer demand, will be available nationwide by the end of March 2023. Market insights indicate that peach flavors are projected to experience a 137% growth in dollar sales over the next four years. To support the launch, Simply Spiked is implementing a comprehensive marketing strategy, including partnerships with the show "Bel-Air" and targeted advertising during March Hoops.
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.