Molson Coors Beverage Stock Price, News & Analysis

Molson Coors Beverage Company (NYSE: TAP) announced an $85 million investment to eliminate plastic rings from Coors Light packaging globally, becoming the largest North American beer brand to do so. This transition to recyclable cardboard-wrap carriers is set to start later this year, aiming to save 1.7 million pounds of plastic waste annually. The initiative supports Molson Coors' sustainability goals of achieving 100% reusable or recyclable packaging by 2025. Coors Light will highlight its commitment at a pop-up store in NYC from March 2-6.

Molson Coors Beverage Company (TAP, TAP.A) reported strong Q4 2021 results, with net sales increasing by 14.2% to $2.62 billion, driven by volume growth and premium pricing across its segments. The firm achieved a net income of $80 million, translating to $0.37 per diluted share, while non-GAAP diluted EPS soared 102.5% to $0.81. For the full year, net sales grew 6.5% to $10.28 billion, and underlying EBITDA decreased by 3.5% to $2.08 billion. The Board raised the quarterly dividend by 12% to $0.38 per share and provided positive guidance for 2022, aiming for continued top and bottom-line growth.

Molson Coors Beverage Company (NYSE: TAP) has expanded its agreement with The Coca-Cola Company (NYSE: KO) to launch Simply Spiked Lemonade this summer, following the success of Topo Chico Hard Seltzer. The new product line will include a variety pack inspired by Simply's best-selling non-alcoholic flavors. As Simply is a $1 billion+ brand found in 50% of U.S. households, this collaboration aims to disrupt the full-flavor alcohol market. This initiative supports Molson Coors' strategy to enhance its premium portfolio.

Molson Coors Beverage Company will conduct a webcast for its 2021 Fourth Quarter and Full Year Earnings Conference Call on February 23, 2022, at 11:00 a.m. Eastern Time. The earnings release will precede the call at 7:00 a.m. Eastern Time. Key executives, including Gavin Hattersley and Tracey Joubert, will be participating. The webcast will be available on the company’s Investor Relations page and will offer an online replay for access until May 2, 2022.

NiSource Inc. (NYSE: NI) announced the departure of Anne-Marie D'Angelo, executive vice president and general counsel, who will join Molson Coors Beverage Company (NYSE: TAP) as Chief Legal and Government Affairs Officer. D'Angelo, who joined NiSource in 2019, significantly enhanced the legal team, ethics, and ESG programs during her tenure. Kim Cuccia, Vice President and Deputy General Counsel, has been appointed interim General Counsel while the company searches for a permanent replacement. D'Angelo's contributions were praised for their impact on high-profile rate cases.

The Board of Directors of Molson Coors Beverage Company (NYSE: TAP, TAP.A) declared a quarterly dividend of US$0.34 per share, payable on December 15, 2021, to stockholders of record on December 3, 2021. Additionally, Molson Coors Canada Inc. (TSX: TPX.A, TPX.B) announced a dividend of approximately CDN$0.42, also payable on December 15, 2021. The dividends affirm the company's commitment to returning value to shareholders.

Molson Coors Beverage Company (NYSE: TAP, TAP.A) announces the retirement of Simon Cox, president and CEO of its European business unit. Sergey Yeskov, currently managing director of Central and Eastern Europe, will succeed him on January 1, 2022. Yeskov's extensive leadership experience includes oversight of various global markets. Under his leadership, the European business has rebounded, reaching 2019 revenue levels in Q3 2021 and plans to increase marketing investments across Europe.

Molson Coors Beverage Company (NYSE: TAP, TAP.A) reported a 2.5% increase in net sales revenue for Q3 2021, reaching $2.82 billion, driven by strong pricing and premium brand mix, despite a 3.9% decline in financial volumes. U.S. GAAP net income rose 32.1% to $453 million, or $2.08 per share. However, underlying EBITDA fell 10.9% to $642.6 million, impacted by rising costs and increased marketing expenses. The company reaffirmed its 2021 financial guidance while continuing its revitalization plan, focusing on premiumization and debt reduction efforts.

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.