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 (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.
Molson Coors Beverage Company (NYSE: TAP, TAP.A) will host its 2021 Second Quarter Earnings Conference Call on July 29, 2021, at 11:00 a.m. Eastern Time. Earnings will be released at 7:00 a.m. the same day. Company executives, including CEO Gavin Hattersley and CFO Tracey Joubert, will participate in the call. The webcast can be accessed on the Investor Relations page of their website, with a replay available for two months following the event.
Molson Coors Beverage Company (NYSE: TAP; TSX: TPX) released its 2021 ESG report, emphasizing a renewed strategy centered on Diversity, Equity and Inclusion and environmental stewardship. The People pillar aims to increase U.S. representation of people of color by 25% and enhance women's roles by 2023. Environmentally, the company focuses on Water, Climate and Packaging, reporting a 3% reduction in water-to-beer ratio and aiming for 50% reduction in emissions by 2025. Key initiatives include using green electricity and achieving 100% reusable packaging by 2025.
The Molson Coors Beverage Company (NYSE: TAP; TSX: TPX) has appointed Eric Gunning as Corporate Secretary, alongside his existing role as Deputy Chief Legal Officer. Gunning, who has been with the company for nine years, has held multiple legal and compliance positions, highlighting his significance to the organization. The announcement comes from Lee Reichert, the current Corporate Secretary, emphasizing Gunning's invaluable contributions to the Board of Directors.
Molson Coors Beverage Company is launching the 'Stonecation' campaign, offering a chance to win $10,000 to five individuals to fund their summer vacations. To enter, customers must purchase a 12-pack or larger of Keystone Light and submit their receipts via KeystoneLightSummer.com or by scanning in-store signage. The contest runs from May 4, 2021, to July 10, 2021. This initiative aims to relieve financial burdens for consumers looking to enjoy summer vacations, emphasizing the importance of spending quality time outdoors with family and friends.
Molson Coors Beverage Company (NYSE: TAP, TAP.A) reported a 9.7% decline in net sales revenue for Q1 2021, totaling $1.90 billion, impacted by decreased volumes in North America and Europe. U.S. GAAP net income was $84.1 million ($0.39 per share), while underlying EBITDA fell 20.2% to $280 million. CEO Gavin Hattersley noted progress in their revitalization plan despite challenges like a cybersecurity incident and pandemic-related restrictions. The company anticipates a mid-single-digit revenue increase and plans to reinstate dividends in H2 2021, focusing on debt reduction and investment.
TRU Colors Brewery has partnered with Molson Coors Beverage Company (NYSE: TAP) to accelerate its brand growth and distribution. Established in 2019, TRU Colors aims to address street violence by employing active gang members and promoting economic equity. The partnership involves equity investment from Molson Coors, which will aid in distribution, marketing, and product development. TRU Colors plans to launch its first product, TRU Light, a lager, in summer 2021, with aspirations for nationwide distribution. The brewery's facility in Wilmington, NC, is set to produce over 1 million cases annually.
The Molson Coors Beverage Company (NYSE: TAP; TSX: TPX) has nominated Julia M. Brown as an independent director for election at the Annual Meeting of Stockholders on May 26, 2021. Brown, a seasoned supply chain executive, previously served as Chief Procurement Officer at Mars Wrigley, overseeing $10 billion in expenditures. The board also announced Iain Napier's retirement from board service. Chair Andrew Molson emphasized Brown's strategic leadership and unique insights for the company's growth. Brown has been recognized by various organizations for her influence in corporate America.
On February 22, 2021, Vizzy Hard Seltzer announced the launch of a new variety pack featuring four dual-flavor combinations: Papaya Passionfruit, Blackberry Lemon, Watermelon Strawberry, and Raspberry Tangerine. Each can includes 100 calories, 1 gram of sugar, and 5% alcohol by volume. The pack will be available nationwide starting March 1, and Vizzy is also expanding into Canada. Marketing director Elizabeth Hitch highlighted the brand's fast growth, noting its placement on Nielsen's Top 10 Growth Brands.
Future Proof Brands has achieved a legal victory as the District Court for the Western District of Texas denied Molson Coors' motion to dismiss the trademark infringement claim regarding Brizzy, Future Proof's hard seltzer. This ruling allows the lawsuit to proceed into the discovery phase, where Future Proof aims to investigate market confusion caused by Molson Coors' competing product, Vizzy. The company, recognized for its rapid growth and innovative products, continues to pursue legal action to protect its brand.
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