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.
Molson Coors has 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. The amount was not disclosed.
The fallout of Bud Light’s sales declines has led to several gains for Molson Coors in the second quarter with potentially more on the horizon. During Tuesday’s call with investors and analysts, Molson Coors president and CEO Gavin Hattersley noted that several retailers have moved up the timing of their shelf resets from the spring to the fall.
A pair of beer distributor surveys found that many in the middle tier believe that the conservative led boycott of Anheuser-Busch’s Bud Light brand may be permanent. Financial services firm Jefferies’ survey found that a majority (65%) of distributors surveyed expect the Bud Light downturn to last at least another six months, while 32% believe it could be permanent. A separate distributor survey by Goldman Sachs analyst Bonnie Herzog found that most respondents are “pessimistic about the potential for a full recovery” of Bud Light’s “brand equity and market share.”
Production at craft breweries falling outside of the Brewers Association’s (BA) craft brewer definition collectively declined -4% on a comparable basis, to more than 8.68 million barrels in 2022, according to data shared by the trade group in the May/June edition of the New Brewer Magazine.
A month and a half after conservative outrage directed at Bud Light began, right wing social media has turned its attention to Miller Lite after a months-old commercial for the brand resurfaced.
Molson Coors will cross the Chicago River next summer when its global headquarters moves to a new location at 320 S. Canal Street.
Molson Coors recorded both top- and bottom-line growth – in addition to volume declines – in Q1 2023, the company announced today.
A federal judge has dismissed a proposed class action lawsuit alleging that Topo Chico Margarita Hard Seltzer is deceptively labeled because it is fermented and lacks tequila.
Molson Coors and The Coca-Cola Company are partnering again this fall with the launch of Peace Hard Tea, a 5% ABV malt-based version of Coca-Cola’s Peace Tea.
Molson Coors has created a new commercial division for the U.S. and Canada that chief marketing officer Michelle St. Jacques will lead as chief commercial officer effective March 1, the company announced.
A lawsuit filed against Molson Coors’ Vizzy Hard Seltzer is nearing completion, after a federal judge said last week he plans to approve the company’s plan to settle with plaintiffs for $9.5 million.
Some of the extra marketing spend Molson Coors promised during its Q4 earnings call with investors this week is already coming to fruition.
The National Advertising Division (NAD) of BBB National Programs has recommended Molson Coors discontinue using its “light beer shouldn’t taste like water; it should taste like beer” claim.
Molson Coors’ U.S. business ended 2022 on a weak note, as the company recorded declines in both shipments (-11.2%) and depletions (-6.8%) in the fourth quarter, according to the company’s Q4 and full-year 2022 earnings report.
