Molson Coors Beverage Company (TAP) appears to be in good shape, thanks to the immense strength in its brands and strong performances across its portfolio. Smooth progress of the Acceleration Plan and the premiumization of its portfolio have been aiding results. The company has been seeing strong success in EMEA&APAC, Canada and Latin America. However, in the United States, it has plans on track to drive improvement. Let us delve deeper. Details on Molson Coors' Strategies Last year, Molson Coors introduced ...

Key Takeaways On a day when tech shares were leading markets lower, investors decided it was time for a beer. The S&P 500's consumer staples sector was recently the best-performing sector in the index, up nearly 1%. Most of its component stocks rose, though a few retailers were sliding in recent trading. On a day when tech shares were leading markets lower, investors decided it was time for a beer. The S&P 500's consumer staples sector was recently up about 1.1%, rising as tech stocks were pulling the bench ...

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both. The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens. It also includes access to the Zacks Style Scores. What are the Zacks Style Scores? Developed alo ...

Jack Andersen/DigitalVision via Getty Images Molson Coors Beverage Company (NYSE:TAP) continues to report beneficial quarterly figures from its ongoing strategy of premiumization of the portfolio, mainly in the EMEA and APAC regions. Even if the volume declines, in my view, TAP could deliver net sales growth driven by successful favorable price and sales mix. I also expect that inorganic growth could bring additional net income growth. In my view, the company's net debt/EBITDA and expertise in acquiring tar ...

Molson Coors Beverage Company (TAP) seems well-poised for growth, thanks to its sturdy business strategies. The company has been gaining from brand strength and robust performances across its portfolio and geographical segments. Smooth progress on its Acceleration Plan also bodes well. The company is on track with its revitalization plan, which focuses on achieving sustainable top-line growth by streamlining the organization and reinvesting resources into its brands and capabilities. It intends to invest in ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both. The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor. Zacks Premium also includes the Zacks Style Scores. What are the Zacks Style Scores? The ...

Key Takeaways Brewing giant Molson Coors topped quarterly revenue and earnings expectations, boosted by an increase in net pricing and favorable sales mix. The company said the results demonstrated progress on its strategic initiatives, including its "Acceleration Plan." Molson Coors shares added more than 5% Tuesday following the earnings release, though they remained in negative territory for 2024. Shares of Molson Coors Beverage Company (TAP) jumped over 5% Tuesday after the brewing giant reported better ...

业绩总结 - 2024年第二季度净销售收入为32.52亿美元，同比下降0.1%[5] - 2024年第二季度品牌销量为217.15万公升，同比下降4.9%[5] - 2024年第二季度的基础税前收入为5.31亿美元，同比增长5.2%[5] - 2024年第二季度每股基础收益为1.92美元，同比增长7.9%[5] - 2024年第二季度的自由现金流为5.05亿美元，同比下降11.4%[5] - 截至2024年6月30日，净债务为54.08亿美元，同比下降4.3%[5] - 2024年第二季度回购股份458万股，同比增长2190%[5] - 2024年第二季度的净收入为4.253亿美元，较2023年同期的3.461亿美元增长了22.9%[49] 用户数据 - 2024年第二季度美国地区税前收入为4.87亿美元，EMEA和亚太地区税前收入为8120万美元，未分配部分为-840万美元[45] - 2023年第二季度美国地区税前收入为4.87亿美元，EMEA和亚太地区税前收入为6420万美元，未分配部分为-1.10亿美元[46] 未来展望 - 2024年预计自由现金流为12亿美元，波动范围为正负10%[18] - 2024年资本支出预计为7.5亿美元，波动范围为正负5%[22] - 2024年第二季度的非GAAP基础EBITDA为7.501亿美元，较2023年同期的7.252亿美元增长了3.4%[49] - 截至2024年6月30日，公司的净债务与基础EBITDA比率为2.13，较2023年同期的2.50有所改善[48] 财务指标 - 2023年公司基础息税折旧摊销前利润（Underlying EBITDA）为24.23亿美元，较2022年的20.36亿美元增长了19%[36] - 2023年公司归属于MCBC的净收入为9.49亿美元，较2022年的-1.75亿美元实现扭亏为盈[36] - 2023年公司每股稀释收益（Underlying Diluted Earnings per Share）为1.92美元，较2022年的-7.28美元显著改善[40] - 2024年第二季度的利息支出为5120万美元，较2023年同期的5460万美元有所减少[49] - 2024年第二季度的所得税费用为1.346亿美元，较2023年同期的9500万美元增加了42.1%[49] 成本与费用 - 2023年第二季度，公司的销售成本为20.48亿美元，管理和营销费用为7.35亿美元，税前收入为4.41亿美元，归属于MCBC的净收入为3.42亿美元[43] - 2024年上半年，公司的销售成本为35.55亿美元，管理和营销费用为13.83亿美元，税前收入为8.25亿美元，归属于MCBC的净收入为6.35亿美元[44] - 2024年上半年，公司的资本支出为3.92亿美元，2023年上半年为3.35亿美元[47] 其他信息 - 公司在财报中使用非GAAP财务指标以评估运营表现，强调这些指标对投资者的价值[25] - 公司预计未来的非GAAP财务指标将继续受到非经常性项目的影响，难以准确预测[35]

财务数据和关键指标变化 - 第二季度合并净销售收入下降0.1% [11] - 基础税前利润增长5.2%,基础每股收益增长7.9% [11] - 上半年净销售收入增长4.2%,基础税前利润增长20.4%,基础每股收益增长23.8% [12] 各条业务线数据和关键指标变化 - EMEA & APAC业务由于价格上涨、产品升级和品牌销量增长而表现出色 [12] - 美国业务由于提前备货导致出货量超过销量,这种情况将在第三和第四季度逆转 [13][14][47] - 与Pabst的合同生产量逐步退出,对第二季度和上半年的财务量产生负面影响 [15][16] 各个市场数据和关键指标变化 - 中东欧市场消费者支出压力有所缓解,市场需求有所增加 [84] - 英国市场消费者保持韧性,通胀下降,工资持续上涨 [85] - 加拿大市场表现与美国类似,公司在核心品牌上的执行获得良好成果 [86][87] - 美国市场消费者行为没有发生太大变化,渠道和包装规格的转换,但品牌忠诚度没有下降 [88][89] 公司战略和发展方向及行业竞争 - 公司核心主导品牌Coors Light、Miller Lite和Coors Banquet在美国市场的份额下降0.5个百分点,但仍高于2022年同期2个百分点 [19][20] - Coors Banquet在美国市场表现出色,销量增长近13%,份额增长最快 [20] - 在加拿大,Coors Light仍是第二大品牌,Molson家族品牌在3个月和年初至今的市场份额均有提升 [21][22] - 在EMEA & APAC,克罗地亚的Ožujsko和罗马尼亚新推出的Caraiman品牌表现出色 [23] - 公司在高端化战略上取得进展,高端品类在总收入中的占比超过26% [24][25][26][27] - 在美国市场,高端品类占比提升但仍有待进一步提升,公司正在采取措施提升Blue Moon和Peroni等高端品牌的表现 [27][28][29][30][31] - 公司在无酒精和口味创新方面持续发力,如Simply Spiked和Peroni等品牌表现良好 [31][132] 管理层对经营环境和未来前景的评论 - 管理层对公司2024年全年业绩目标保持信心,预计将实现三年连续收入和利润增长 [18] - 美国市场消费者行为变化不大,渠道和包装规格的转换,但品牌忠诚度没有下降 [88][89] - 中东欧市场消费者支出压力有所缓解,英国和加拿大市场消费者保持韧性 [84][85][86] - 公司在创新和高端化战略上持续发力,有望进一步提升业绩 [24][25][26][27][132] 其他重要信息 - 公司持续加大对供应链、营销、技术等方面的投资,提升效率并抵消通胀压力 [34][36][37][39] - 公司在美国、英国等地进行大规模的生产设备升级和产能扩张项目 [36][37] - 公司保持良好的财务状况,资产负债率维持在目标区间,并加大股票回购力度 [41][42][43][44] - 公司维持2024年全年指引,预计收入和利润将继续增长,但第三四季度增速将有所放缓 [45][46][47][48][49][50][51] 问答环节重要的提问和回答 问题1 **Bonnie Herzog 提问** 询问第三四季度的业绩放缓原因,以及公司采取的应对措施 [56][57][58][59][60][61][62][63] **Tracey Joubert 回答** - 第三四季度业绩放缓主要由于美国业务出货量超销量的影响逆转,以及Pabst合同生产量的进一步退出 - 公司通过价格管理、产品升级、成本节约等措施来部分抵消业绩下滑的影响 问题2 **Drew Levine 提问** 询问美国市场各月份的销量表现以及公司对行业前景的看法 [65][66][67][69][70] **Gavin Hattersley 回答** - 4-5月销量较弱,6月有所改善,但整体二季度销量与之前趋势一致,消费者在品牌间转换但未大幅降级 - 公司无法根据短期数据预测整个季度的表现,将密切关注第三季度的情况 问题3 **Rob Ottenstein 提问** 询问公司在高端品牌发展方面的挑战及应对措施 [74][75][76][77][78][79][80] **Gavin Hattersley 回答** - 美国市场高端品牌发展相对滞后,公司正采取措施提升Blue Moon和Peroni等品牌的表现 - 包括推出新包装、营销活动,以及将Peroni生产本地化等措施 - 公司在加拿大、EMEA等市场高端化进展良好,未来将继续推动高端品牌发展

Molson Coors Beverage Company (TAP) has posted impressive second-quarter 2024 results, wherein the top and bottom lines beat the Zacks Consensus Estimate and improved year over year. The results have been mainly aided by an improved price and sales mix, offset by adverse currency, and soft financial and brand volumes, led by lower contract brewing volumes. The quarterly results reflect significant progress against the Acceleration Plan. Progress on its premiumization strategy varies across markets. The comp ...