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.
Net sales reached $2.596 billion, a 10.7% increase compared to $2.346 billion in the prior year. This growth was attributed to a 5.7% increase in financial volumes and a 4.4% favorable impact from price and sales mix.
Gross profit increased to $963.5 million, a 25% increase from $770.7 million in the prior year. This improvement indicates better cost management and pricing strategies.
Net income attributable to Molson Coors was $207.8 million, a significant increase from $72.5 million in the prior year. Diluted earnings per share increased to $0.97 from $0.33 year-over-year.