Molson Coors Beverage Company’s overall business remained in the red as the company closed its 2024 fiscal year. However, the fourth quarter showed improvement over the double-digit declines reported in Q3, and leadership is confident the company can return to growth in 2025, according to Molson Coors’ earnings call today with investors and analysts.
Just like the Kansas City Chiefs, draft beer also took an L in Super Bowl LIX. Draft beer volume declined -4.6% nationwide on Super Bowl Sunday, according to on-premise insights firm BeerBoard.
Following Molson Coors’ Q4 and full-year earnings report Tuesday, CEO Gavin Hattersley fielded questions from analysts on a range of topics from the stickiness of his company’s share gains, to why draft trends are struggling, to overall industry performance.
William “Bill” Coors, the former chairman of the Adolph Coors Company, died Saturday at the age of 102. Coors, the grandson of Adolph Coors and heir to the family brewing business, died at his home, according to a statement released by Molson Coors. “Our company stands on the shoulders of giants like Bill Coors,” Molson Coors president and CEO Mark Hunter said in statement.
After just six months, MillerCoors has pulled the plug on Two Hats, a light beer brand that was targeted at 21- to 24-year-old consumers. The company announced the decision to cease production of the beer, which will remain on retail shelves until early 2019, in a letter to employees and wholesalers on Monday.
Molson Coors Brewing Company today reported its second-quarter earnings, however the financial results took a backseat to news that its Canadian business division had formed a joint venture with a Quebec cannabis company. The JV between Molson Coors Canada and HEXO, a recreational cannabis “sister brand” to The Hydropothecary, a licensed producer and distributor of medical cannabis, will be structured as “a standalone start-up company” led by its own board and management team.
Despite continued negative domestic volume trends for its flagship light lager brands, Molson Coors’ worldwide sales increased 0.2 percent to more than $11 billion in 2017, according to company earnings released today.
