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.
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.
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.
BARK, Inc. announces the appointment of Zahir Ibrahim as Chief Financial Officer, effective immediately. With nearly 30 years of financial leadership experience, including roles at KIND LLC and Annie’s Inc. (NYSE: BNNY), Ibrahim brings expertise in scaling consumer brands. His addition is viewed as a significant milestone as BARK seeks to enhance its position in the market and drive profitability. The company expressed gratitude to former Interim CFO Howard Yeaton for his contributions during the transitional phase.
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 has announced that Coors Light will be the first multi-year partner of the Leagues Cup, a new tournament featuring all teams from MLS and LIGA MX. This inaugural event will take place from July 21 to August 19, 2023, and serve as a qualifier for the Concacaf Champions League. The partnership aims to enhance fan engagement through integrated marketing and on-site activations. As the exclusive beer partner, Coors Light will be present at 77 matches across North America.
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%.