Molson Coors Beverage Co

TAP

Equity

ISIN US60871R2094 / Valor 2025387

New York Stock Exchange, Inc (2024-11-21)

USD 60.47+0.15%

Molson Coors Beverage Co
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About company

Molson Coors Beverage Co, a longstanding brewing company with a history spanning over two centuries, is known for producing a wide range of iconic beer brands such as Coors Light, Miller Lite, and Molson Canadian. In addition to its traditional beer offerings, the company has expanded its portfolio to include other beverages beyond the beer aisle. With a focus on uniting people to celebrate life's moments, Molson Coors continues to innovate and offer beloved brands like Blue Moon Belgian White, Vizzy, and Leinenkugel's Summer Shandy, catering to a diverse consumer base.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Net Sales

In the second quarter of 2024, Molson Coors Beverage Co reported net sales of $3,252.3 million, a slight decrease of 0.4% compared to the same period in 2023. When adjusted for constant currency, the decrease was 0.1%. This decline was primarily driven by lower financial volumes and unfavorable foreign currency impacts, partially offset by favorable price and sales mix.

Income Before Taxes

Molson Coors Beverage Co's U.S. GAAP income before income taxes for Q2 2024 was $559.9 million, marking a significant increase of 26.9% from the previous year. On an underlying basis, income before income taxes improved by 5.2% in constant currency, reaching $531.2 million. This growth was attributed to increased net pricing, favorable sales mix, and cost savings initiatives.

Net Income

The company reported a GAAP net income attributable to Molson Coors Beverage Co of $427.0 million for the second quarter of 2024, translating to $2.03 per diluted share. This represents a 24.7% increase in net income compared to Q2 2023. Underlying net income per diluted share was $1.92, up 7.9% from the previous year.

Dividends and Share Repurchases

During the first half of 2024, Molson Coors Beverage Co returned $564 million to shareholders through dividends and share repurchases, with $353 million of this occurring in the second quarter. This reflects the company's strong cash flow and commitment to returning value to its shareholders while continuing to invest in its business.

Full Year Guidance

Molson Coors Beverage Co reaffirmed its full-year 2024 guidance, expecting both top-line and bottom-line growth for the third consecutive year. Despite challenging second-half trends related to U.S. shipment timing, the company remains confident in its growth strategy, which includes robust revenue management, premiumization, innovation plans, and continued investments to drive efficiencies and cost savings.

Summarized from source with an LLMView Source

Key figures

1.44%1Y

31.7%3Y

15.1%5Y

Performance

23.7%1Y

25.4%3Y

31.5%5Y

Volatility