Molson Coors Beverage Company (TAP) has signed a deal with Fevertree Drinks plc (Fever-Tree), a global leader in premium carbonated beverages and mixers. The partnership is aimed at broadening its U.S. non-alcoholic portfolio. Under the deal, Molson Coors will get exclusive commercialization rights for Fever-Tree's products, including tonics, ginger beers, cocktail mixers and other products in the United States. As part of the deal, TAP will manage co-manufactured production, marketing, sales and distributi ...

Stock Performance - Molson Coors Beverage Company (TAP) stock has grown 7% in the past six months, outperforming the Zacks Beverages - Alcohol industry, which dropped 16.6%, and the broader Consumer Staples sector, which fell 4.4% [1] Company Strategies - The company is focused on portfolio premiumization in both Beer and Beyond Beer to enhance its product portfolio [1] - Molson Coors' Acceleration Plan builds on the success of its 2019 Revitalization Plan and revolves around five pillars: core power brands' growth, portfolio premiumization, beyond beer expansion, investment in capabilities, and support to its people and communities [2] - The company plans to invest in iconic brands and growth opportunities in the above-premium beer space, expand in adjacencies and beyond beer, and develop digital competencies for commercial functions, supply-chain-related system capabilities, and employees [3] Growth Opportunities - ZOA, a better-for-you energy drink, has shown high-growth potential with its direct-to-consumer business being a key sales driver, expected to boost Molson Coors' portfolio and profitability [4] Challenges - The company faces cost inflation, with the underlying cost of goods sold per hectoliter rising 5.6% in Q3 2024 due to increased materials and manufacturing costs, deleveraged volumes, and unfavorable mix in the Americas segment [6] - Lower U.S. brand volumes and underperformance of the U.S. beer industry are additional pressures [7] Valuation - Molson Coors' stock is trading at a discount with a forward 12-month price/earnings ratio of 9.34, lower than the industry's 14.23 and its five-year high of 15.57 [8] Earnings Outlook - The Zacks Consensus Estimate for Molson Coors' 2025 earnings per share (EPS) indicates a 2.8% year-over-year increase [11] Consumer Staples Sector Highlights - Freshpet, Inc (FRPT) has a trailing four-quarter average earnings surprise of 144.5% and a Zacks Rank 1 (Strong Buy) with current financial-year sales and EPS expected to grow 24.5% and 66.8%, respectively [12] - United Natural Foods (UNFI) has a Zacks Rank 1 with current financial-year sales and EPS expected to grow 0.3% and 442.9%, respectively, and a trailing four-quarter average earnings surprise of 553.1% [13] - McCormick & Company (MKC) has a Zacks Rank 2 (Buy) with current financial-year sales and EPS expected to grow 2.3% and 6.4%, respectively, and a trailing four-quarter average earnings surprise of 13.8% [14]

Molson Coors Beverage Company (TAP) has encountered a notable resistance level, prompting caution among investors from a technical standpoint. TAP has been trading below both the 200-day and 50-day simple moving averages (SMA) for quite some time now, suggesting a bearish trend.Currently, at $55.19, TAP remains below its 200-day and 50-day SMA of $56.01 and $58.92, respectively, indicating a possible sustained downward trend.TAP Trading Below 50- and 200-Day Moving AverageImage Source: Zacks Investment Rese ...

Molson Coors Beverage Company (TAP) is currently trading at a notable low price-to-earnings (P/E) multiple, well below the averages of the Zacks  Beverages - Alcohol industry and the broader Consumer Staples sector. With a forward 12-month P/E of 10.41x, TAP stock reflects a discount to the industry average of 15.97x and the Consumer Staples sector’s average of 17.84x.TAP Stock Looks UndervaluedImage Source: Zacks Investment ResearchThis shows the TAP stock is undervalued relative to its industry peers, pre ...

Molson Coors Beverage Company’s (TAP) shares have risen nearly 5% since it released third-quarter 2024 results on Nov. 7. The company’s top and bottom lines beat the Zacks Consensus Estimate but declined year over year.In addition, the company lowered its 2024 sales forecast to a 1% decline on a constant-currency basis from the previously mentioned low-single-digit growth, due to the ongoing macroeconomic pressures on the U.S. beer industry and lower U.S. financial volumes during this year’s peak season.Des ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ . Commission File Number: 1-14829 Molson Coors Beverage Company (Exact ...

Molson Coors Beverage Company (TAP) has posted third-quarter 2024 results, wherein the top and bottom lines beat the Zacks Consensus Estimate but declined year over year. The results were largely affected by the challenging U.S. macroeconomic environment, the anticipated unfavorable shipment timing and the wind-down of a contract brewing agreement, causing a 17.9% year-over-year decline in U.S. financial volume. This was partly offset by the strong performance of the EMEA&APAC business and robust results in ...

� COOKS Q3 FY 2024 RESULTS & OUTLOOK FORWARD LOOKING STATEMENTS & OTHER INFORMATION This presentation includes "forward-looking statements" within the meaning of the U.S. federal securities laws. Generally, the words "expects," "intend," "goals," "plans," "believes," "continues," "may," "anticipate," "seek," "estimate," "outlook," "trends," "future benefits," "potential," "projects," "strategies," "implies," and variations of such words and similar expressions are intended to identify forward-looking statem ...

Financial Data and Key Metrics - Consolidated net sales revenue decreased by 7.8%, underlying pre-tax income decreased by 8.7%, and underlying earnings per share decreased by 6.2% in Q3 [8] - U.S. financial volume declined by 17.9%, and brand volume declined by 6.2% due to macroeconomic pressures [8] - Underlying free cash flow for the first nine months of the year was $856 million, with $717 million returned to shareholders through dividends and share repurchases [16] - The company adjusted its 2024 net sales revenue guidance to a decline of approximately 1%, down from previous low single-digit growth expectations [11] Business Line Performance - Core power brands in the U.S. (Coors Lite, Miller Lite, and Coors Banquet) saw a combined volume share decline of 0.5 points year-over-year, but retained significant share gains compared to 2022 [17] - Coors Banquet grew brand volume by 8% and gained industry share for the 13th consecutive quarter, making it the fastest-growing top 15 beer brand in the U.S. by volume percentage growth [17] - In Canada, Coors Lite gained segment share and remained the number one lite beer in the industry [18] - EMEA and APAC regions saw strong performance, with Ožujsko in Croatia growing volume by 6% and the successful relaunch of Caraiman in Romania, which reached over 250,000 hectoliters since March [19][20] Market Performance - The U.S. market faced challenges due to macroeconomic pressures, leading to value-seeking behavior and channel/pack shifting, particularly during the summer [10] - Canada and EMEA/APAC regions performed strongly, with Canada's top-line growth at 5.7% and EMEA/APAC also growing at 5.7% for the first nine months of 2024 [48][49] - The U.K. market saw soft consumer demand and increased promotional intensity, but Madri continued to drive volume and value growth [110][112] Company Strategy and Industry Competition - The company is focusing on premiumization, with over half of EMEA and APAC net brand revenue coming from above-premium products [21] - Investments in local production for Peroni in the U.S. aim to improve supply consistency and introduce new pack sizes, with plans to scale the brand significantly by 2025 [24][25] - The company increased its ownership stake in Zoa to 51%, aiming to leverage its network for marketing and distribution growth [27][28] - The company is divesting underperforming craft breweries to focus on scalable above-premium opportunities in the U.S. [23] Management Commentary on Operating Environment and Future Outlook - Management acknowledged the impact of macroeconomic pressures on the U.S. beer industry but expressed confidence in the long-term growth potential of the business [9][11] - The company reaffirmed its mid-single-digit growth guidance for underlying pre-tax income and narrowed its EPS guidance to the higher end of the range, supported by cost savings and share repurchases [11][12] - Management highlighted the importance of premiumization, innovation, and supply chain efficiencies in driving long-term profitable growth [32] Other Important Information - The company completed its multi-year Golden Brewery upgrade, providing more flexibility for future investments and cost savings [36] - Moody's upgraded the company's credit rating to BAA1 stable, the highest investment-grade rating in over a dozen years [37] - The company repurchased 7.5 million shares in the first nine months of 2024, utilizing 29% of its $2 billion share repurchase plan [39] Q&A Session Summary Question: Impact of shipment timing and macroeconomic pressures on U.S. financial volumes [52] - The decline in U.S. financial volumes was driven by a 17.9% drop in shipments, a 6.2% decline in brand volume, and a 2.6% impact from Pabst contract brewing [57] - The company expects a remaining headwind of 500,000 hectoliters in Q4 due to the termination of the Pabst contract [42] Question: Consumer behavior and industry trends [59] - The U.S. beer industry saw value-seeking behavior and channel/pack shifting during the summer, but trends improved in September and October [61][62] - Premiumization continues to be a key trend, particularly in the U.S. and Canada [63] Question: Shelf space retention and gains [66] - The company retained the significant shelf space gained in 2023 and achieved additional gains in the fall reset [69][70] Question: Marketing investment levels [71] - Marketing investment was down in Q3 compared to the prior year but is expected to be up for the full year 2024 [72][73] Question: Pricing and promotional environment [84] - Pricing remains in the historical range of 1% to 2%, with no significant changes in promotional activity except for deeper discounting in the above-premium tier [86][87] Question: Performance of Happy Thursday and flavor portfolio [88] - Happy Thursday has shown early positive results, particularly among Gen Z consumers, and the company plans to continue supporting the brand [92][93] Question: Plans for Blue Moon and Coors Banquet [95] - Blue Moon is showing signs of stability, with sequential improvement in total industry dollar share, while Coors Banquet continues to grow strongly [97][100] Question: COGS per hectoliter outlook [95] - The company expects cost savings from supply chain efficiencies and the removal of Pabst contract brewing to positively impact COGS [101][102] Question: Category trends and Q4 outlook [104] - The company has a good handle on Q4 drivers, including pricing and shipment trends, and remains confident in its long-term growth algorithm [105][107] Question: EMEA and APAC volume weakness [109] - Soft consumer demand in the U.K. and increased promotional intensity contributed to volume declines, but Madri continues to perform well [110][112] Question: Zoa's performance and future plans [114] - Zoa is gaining traction as a better-for-you energy drink, with strong performance on Amazon and new distribution opportunities [116][117]

Core Insights - Molson Coors Brewing reported a revenue of $3.04 billion for the quarter ended September 2024, reflecting a year-over-year decline of 7.8% [1] - The company's EPS for the same period was $1.80, down from $1.92 a year ago, with an EPS surprise of +9.09% compared to the consensus estimate of $1.65 [1] Revenue and Earnings Performance - The reported revenue of $3.04 billion was below the Zacks Consensus Estimate of $3.14 billion, resulting in a surprise of -2.98% [1] - The year-over-year decline in revenue indicates challenges in maintaining sales levels compared to the previous year [1] Key Metrics Analysis - Consolidated Brand Volume was 21.33 million, below the three-analyst average estimate of 21.93 million [3] - Brand Volumes in the Americas reached 15.37 million, slightly above the average estimate of 15.34 million [3] - Brand Volumes for EMEA & APAC were 5.97 million, below the average estimate of 6.31 million [3] - Net Sales for EMEA & APAC were reported at $704.40 million, compared to the average estimate of $716.25 million, representing a year-over-year change of +5.1% [3] - Net Sales in the Americas were $2.35 billion, below the average estimate of $2.40 billion, reflecting a year-over-year decline of 11% [3] - Unallocated & Eliminations reported -$6.70 million, worse than the average estimate of -$4.93 million, with a year-over-year change of +24.1% [3] Stock Performance - Molson Coors shares have returned +4.1% over the past month, outperforming the Zacks S&P 500 composite's +3.2% change [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]