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 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.
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.
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