Welcome to our dedicated page for Molson Coors Beverage Company Class B news (Ticker: TAP), a resource for investors and traders seeking the latest updates and insights on Molson Coors Beverage Company Class B stock.
Molson Coors Beverage Company (symbol: TAP) is a globally recognized leader in the brewing industry, known for delivering extraordinary brands that resonate with beer drinkers worldwide. With a rich heritage dating back over two centuries, Molson Coors operates through distinct regional divisions: Molson Coors North America and Molson Coors Europe. The company's portfolio includes iconic brands such as Coors Light, Molson Canadian, Carling, Staropramen, and Blue Moon, catering to a diverse range of tastes across the Americas, Europe, and Asia.
Molson Coors is committed to sustainability and has been listed on the Dow Jones Sustainability World Index for multiple years. The firm’s dedication to environmental and social goals is encapsulated in its 'Our Beer Print' initiative and its ambitious 2025 sustainability targets. The company also collaborates with major global brands like Heineken and Coca-Cola through licensing agreements, further expanding its reach and product offerings.
The company’s operations in North America, which account for over 80% of total revenue, utilize a combination of independent distributors and in-house sales teams. This strategic approach ensures efficient market penetration and consumer engagement. In recent years, Molson Coors has ventured beyond traditional beer offerings to include sparkling cocktails, canned wine, kombucha, cider, and more, aligning with evolving consumer preferences.
Recent highlights include a fresh multi-year music partnership with Grammy-nominated country superstar Lainey Wilson. This collaboration not only boosts the visibility of Coors Light but also engages fans through exclusive merchandise and concert experiences. Another significant development is the launch of Barmen 1873 Bourbon, marking the brand’s first celebrity partnership. These initiatives reflect Molson Coors’ strategy of blending tradition with innovation to stay relevant in a competitive market.
Financially, Molson Coors remains robust, with steady revenue streams from its diverse product lines and strategic partnerships. The company is publicly traded on the New York and Canadian Stock Exchanges under the ticker TAP, offering investors a stake in one of the most enduring and dynamic beverage companies globally.
Molson Coors reported Q3 2024 results with net sales declining 7.8% to $3.04 billion and income before taxes decreasing 39.1% to $331.4 million. The company's U.S. financial volume declined 17.9%, impacted by macroeconomic challenges and contract brewing wind-down. Despite challenges, EMEA&APAC and Canada segments showed strong performance. The company adjusted its 2024 top-line guidance downward to approximately -1% but reaffirmed bottom-line guidance, narrowing to the higher end of mid-single-digit growth for underlying EPS. Molson Coors returned $717 million to shareholders through dividends and share repurchases in the first nine months.
Molson Coors Beverage Company (NYSE: TAP) has announced taking a majority ownership stake in ZOA Energy, the better-for-you energy drink brand co-founded by Dwayne 'The Rock' Johnson. The deal enables Molson Coors to lead ZOA's marketing, retail, and direct-to-consumer sales. ZOA shows strong performance metrics with 50% repeat purchase rates and 30% new-to-category buyers. The brand is available in over 25,000 retail locations with 86,000 distribution points across North America. This strategic move expands Molson Coors' total beverage portfolio in the growing better-for-you energy drinks segment.
Molson Coors Beverage Company (NYSE: TAP, TAP.A; TSX: TPX.B, TPX.A) has announced its 2024 Third Quarter Earnings Conference Call, scheduled for November 7, 2024. The company will release earnings at approximately 6:30 a.m. Eastern Time, followed by a webcast with investors and financial analysts at 8:30 a.m. Eastern Time. The webcast will be accessible via the Investor Relations page on the company's website, with an online replay expected within two hours after the live event.
Molson Coors, with over two centuries of brewing history, produces a diverse portfolio of beverages including core power brands like Coors Light and Miller Lite, above premium brands such as Blue Moon Belgian White, and economy brands like Miller High Life. The company has expanded beyond beer to include hard seltzers, spirits, and non-alcoholic beverages. Molson Coors operates through Americas and EMEA&APAC reporting segments and is traded on the New York and Toronto Stock Exchanges.
Molson Coors Beverage Company (NYSE: TAP) reported its Q2 2024 financial results. Net sales slightly decreased by 0.4%, but income before income taxes surged by 26.9% to $559.9 million.
Underlying income before income taxes improved by 5.2% in constant currency. The company returned $353 million to shareholders via dividends and share repurchases and reaffirmed its 2024 guidance for both top-line and bottom-line growth.
For H1 2024, net sales increased by 4.2% on a constant currency basis, while underlying income before income taxes rose by 20.4%.
U.S. GAAP net income for Q2 was $427 million, or $2.03 per diluted share, with non-GAAP diluted EPS increasing by 7.9% to $1.92. CEO Gavin Hattersley highlighted strong cash flow and strategic investments supporting long-term growth.
Molson Coors Beverage Company (NYSE: TAP, TAP.A) has declared a regular quarterly dividend of US$0.44 per share on its Class A and Class B common stock, payable on September 20, 2024, to stockholders of record on August 30, 2024. Additionally, Molson Coors Canada Inc. (TSX: TPX.B, TPX.A) announced a quarterly dividend of approximately CDN$0.60 for its Class A and Class B exchangeable shareholders, payable on the same date.
Molson Coors, with a history spanning over two centuries, produces a wide range of beverages including iconic beer brands like Coors Light, Miller Lite, and Blue Moon, as well as hard seltzers, spirits, and non-alcoholic drinks. The company operates in the Americas and EMEA&APAC regions, focusing on meeting diverse consumer needs and maintaining a commitment to sustainability through its Imprint strategy.
Molson Coors Beverage Company (NYSE: TAP, TAP.A; TSX: TPX.B, TPX.A) will broadcast its 2024 Second Quarter Earnings Conference Call on August 6, 2024, at 8:30 a.m. Eastern Time, with the earnings report released at 6:30 a.m. Eastern Time on the same day. The webcast will be available through the Investor Relations page of the Molson Coors website. A replay of the call will be accessible until November 6, 2024. Molson Coors, with a history of over two centuries, produces iconic beer brands such as Coors Light, Miller Lite, and Molson Canadian, as well as non-alcoholic beverages and flavored drinks like Vizzy Hard Seltzer. The company's strategy includes People & Planet initiatives focused on sustainability and community impact. For more information, visit the company's website.
Molson Coors Beverage Company (NYSE: TAP) announced the pricing of its public offering of €800 million of 3.800% Senior Notes due 2032. The offering is expected to close on May 29, 2024, subject to customary conditions. Net proceeds are estimated at €793.5 million after underwriting discounts and expenses. The funds will be used for general corporate purposes, including repaying €800 million in notes maturing in July 2024. Joint book-running managers include Citigroup, BofA Securities, Goldman Sachs, among others. The offering is made under an effective SEC shelf registration statement.
Molson Coors Beverage Company (NYSE: TAP) has announced an underwritten public offering of euro-denominated senior notes, expected to close around May 29, 2024. The proceeds will be used for general corporate purposes, including repaying EUR 800 million notes maturing in July 2024. Citigroup Global Markets , BofA Securities, Goldman Sachs & Co. , Bank of Montreal, J.P. Morgan Securities, RBC Europe , and Scotiabank are joint book-running managers for the offering. The offering is under an effective shelf registration statement filed with the SEC.
Molson Coors Beverage Company (NYSE: TAP, TAP.A) has announced a regular quarterly dividend of US$0.44 per share for its Class A and Class B common stock, payable on June 21, 2024, to shareholders of record on June 7, 2024. Molson Coors Canada (TSX: TPX.B, TPX.A) has also declared a quarterly dividend of approximately CDN$0.59, also payable on June 21, 2024, to its Class A and Class B exchangeable shareholders of record on June 7, 2024. These dividends are eligible for Canadian tax purposes. The company, with a history spanning over two centuries, offers a diverse portfolio of beverages including core beer brands like Coors Light and Miller Lite, premium brands such as Blue Moon, and non-alcoholic options. Molson Coors operates in the Americas, EMEA & APAC regions, and is committed to sustainability and community impact through its Imprint strategy.
Molson Coors Beverage Company reported strong first-quarter results in 2024, with a 10.7% increase in net sales and significant growth in income before income taxes. The company reaffirmed its guidance for top-line and bottom-line growth for the full year. The positive performance was driven by double-digit brand volume growth for core brands in the U.S. and successful innovation in the above premium portfolio. However, the industry's softness in the U.S. and Canada remains a challenge for the company.
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