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.
New Belgium’s Voodoo Ranger Imperial IPA (Voodoo Ranger) is now the No. 1 craft beer by dollar sales in the convenience channel, passing Molson Coors’ Blue Moon Belgian White (Blue Moon), according to data firm Circana’s monthly beer report. Voodoo Ranger has increased c-store dollar sales +14.8%, to more than $81 million year-to-date (YTD), ending November 5. The IPA now has 5.84% share of total craft beer dollar sales in the channel.
Red Tree Beverages, Coca-Cola’s “firewalled, wholly owned” subsidiary to explore beverage-alcohol, has no intention of getting into the distribution business, Red Tree president Jenny Dowdy said yesterday during Beer Marketer’s Insights fall seminar.
Molson Coors has raised its full-year underlying pre-tax growth guidance by an additional 10% since its previous guidance, from +23% to +26%, to now +32% to +36%.
Monster Energy is “all-in on alcohol” and “thinks it could be big for them by 2025,” according to Goldman Sachs equity analyst Bonnie Herzog’s report from the National Association of Convenience Stores (NACS) trade show. The energy drink maker, which entered beverage-alcohol with the acquisition of CANarchy in January 2022, displayed its forthcoming hard tea, Nasty Beast Hardcore Tea during the show, Herzog wrote.
Happy Thursday! No, we haven’t mixed our days up. Happy Thursday is a new spiked refresher from Molson Coors, announced today.
Four years after debuting the revitalization plan that helped put it on its current path, Molson Coors rolled out a new acceleration plan to continue its growth during a strategy day for investors on Tuesday. Thanks to “substantially improved financial flexibility,” Molson Coors will enact a $2 billion share buyback program over the next five years, chief financial officer Tracey Joubert said in a press release.
Coors Light is going solo to Super Bowl LVIII in Las Vegas. Molson Coors CMO Sofia Colucci revealed last week during the company’s annual distributor convention in Orlando that the company would again purchase commercial time during the Super Bowl, and this year’s ad time would be devoted to Coors Light.
Molson Coors is refreshing the Blue Moon brand in 2024, company leaders shared during its distributor meeting earlier this week. Blue Moon made a surprise cameo in February during Molson Coors’ first Super Bowl ad in 30 years, which helped grow display and drive social chatter. However the top-selling craft beer in the U.S. has still been down in scan year-to-date.
Molson Coors Beverage Company’s innovation strategy moving forward will focus on the segments where the company believes it has “a right to win.” Those areas include low- and no-alcohol beer, flavored adult beverages, whiskey, energy drinks and pure-play non-alcoholic beverages
Molson Coors is growing in every region, every channel and every major retailer in America, chief commercial officer Michelle St. Jacques shared during opening remarks Tuesday of the beverage company’s distributor convention in Orlando.
Distributors noticed stronger beer trends this summer versus last summer, “despite headline concerns over the slowing category and ongoing Bud Light pressures,” Goldman Sachs analysts reported in the company’s latest Bev Bytes Beer Distributor Survey.
Molson Coors Beverage Company’s faith in Dwayne Johnson-backed energy drink brand ZOA is rock solid.
A month after Molson Coors’ sunny Q2 earnings call with investors, CEO Gavin Hattersley gave an update on continued positive trends at the Barclays Global Consumer Staples Conference.
Molson Coors made headlines this week when it announced that it agreed to purchase Kentucky-based distillery Blue Run Spirits, marking the beer giant’s first spirits acquisition and the formal launch of its Coors Spirits Co. business.
