Sector: Consumer Staples|Industry: Beverages - Brewers|Market Cap: $11.53B|Employees: 16K
Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Five Trail, Hop Valley brands, Leinenkugel's, Madri, Miller Genuine Draft, Molson Ultra, Sharp's, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee's Best, and Steel Reserve under the economy brands. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020. Molson Coors Beverage Company was founded in 1774 and is based in Golden, Colorado.
The 10-K filing indicates a 9.4% increase in net sales, reaching $11.702.1 million compared to $10.701.0 million in the previous year. This growth is attributed to favorable pricing strategies and increased financial volumes, indicating strong market demand and effective revenue management.
The filing acknowledges ongoing cost inflation affecting materials and manufacturing expenses, impacting the company's profitability. While there was some moderation in the second half of the year, the overall impact remains a concern for financial performance.
A partial impairment charge of $160.7 million was recorded for the Staropramen family of brands within the EMEA&APAC segment, indicating a decline in the brand's fair value. This negatively impacts net income and reflects challenges in the brand's performance or market conditions.