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.
Molson Coors Beverage Company reported strong first-quarter results for 2022, with net sales up 16.7% to $2.22 billion, driven by positive pricing and a favorable sales mix. U.S. GAAP income before taxes increased by 37.5% to $173.7 million, while net income rose 80.1% to $151.5 million, with EPS reaching $0.70. The company continues to experience growth in its core brands and achieved its highest above-premium mix since the 2016 MillerCoors acquisition. Despite challenges such as inflation, Molson Coors reaffirmed its 2022 guidance for continued growth, underscoring its commitment to long-term success.
Molson Coors Beverage Company has announced the launch of Arnold Palmer Spiked Lite, a new light version of its popular malt beverage, which consists of half iced tea and half lemonade. The product, debuting in May, contains only 100 calories and 2 grams of sugar per 12 ounces, targeting health-conscious consumers. It will be available in 16 states and is packaged in 12 oz slim cans. Since its introduction in 2018, the Arnold Palmer Spiked line has seen double-digit sales growth, indicating strong market demand.
Molson Coors Beverage Company will host a Q1 2022 Earnings Conference Call on May 3, 2022, at 11:00 a.m. ET. Earnings will be released at 7:00 a.m. ET on the same day. Key executives, including Gavin Hattersley (CEO) and Tracey Joubert (CFO), will participate. The webcast can be accessed via the Investor Relations page and will have a replay available until August 1, 2022. Molson Coors, trading under TAP on NYSE, has a rich history of over 200 years in beverage production.
The board of directors of Molson Coors Beverage Company (NYSE: TAP) has nominated Leroy J. Williams, Jr. as an independent director for election at the Annual Meeting on May 18, 2022. Williams, CEO of CyberTekIQ, LLC, brings extensive experience from cybersecurity to business development. His past roles include Global Chief Information Officer at Ball Corporation and various cabinet positions in Colorado. His election is expected to enhance the board's strategic guidance as the company continues its growth trajectory.
Coors Light introduces the Chillollipop, a beer-flavored lollipop designed to calm stressed sports fans during college basketball season. This social experiment aims to explore the calming effects of lollipops during high-stress moments, as noted by professor Donald E. Gibson. The Chillollipop, available for $3.17 in 6-packs, contains no alcohol but offers a frothy foam top similar to a Coors Light. Marketing VP Marcelo Pascoa emphasizes the brand's chill ethos, inviting consumers to share their experiences on social media.
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.