Molson Coors beats Q1 estimates on higher prices, strong demand [Reuters]
Molson Coors Beverage Company Class B (TAP)
Last molson coors beverage company class b earnings: 4/30 07:00 am
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ir.molsoncoors.com/overview/default.aspx
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Source: Reuters
by higher prices as well as steady demand for the beer maker's brands such as Coors Light and Miller Lite. The company also reaffirmed its full-year sales and profit forecasts. WHY IS IT IMPORTANT? Beer makers such as Molson Coors and peer Constellation Brands have been consistently hiking prices in order to protect their margins from rising costs of production, even as some of those expenses are beginning to drop from their peaks. CONTEXT Consumers have been willing to stretch their budgets a little more to purchase Molson's products given that beers are generally considered as In February, the company said it was expecting to gain more shelf space at retailers going in to the spring. KEY QUOTE "Strong Americas volume and favorable net pricing... resulted in double-digit top-line growth, while volume leverage and ongoing cost savings drove meaningful margin expansion in the quarter," said CFO Tracey Joubert. BY THE NUMBERS Its net sales for the quarter was about $
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