Molson Coors strong second quarter

US brewer Molson Coors is looking strong after the company grew beyond expectation in the second quarter, with sales and earnings rising despite a global downturn in the beer market.

Towering above: A Molson brewery in Canada (Photo: Flickr)

Towering above: A Molson Coors brewery in Canada (Photo: Flickr)

With earnings this quarter leaping up by 8%, the company’s stock price rose accordingly to an impressive $71.08 (£42.21) — roughly a 6% increase.

This put the company at the top of the S&P 500, the stock market index designed to be reflective of the US economy.

As reported by the Financial Times, the Heineken and Coors brewer reported earnings up from $1.45 (£0.86) a share last year to $1.56 (£0.93), far higher than the predicted $1.47 (£0.87).

Sales rose by 1% to $1.19bn (£706.6m).

Peter Swinburn, Molson chief executive, told the press that the company “continued to build a bigger and stronger brand portfolio that is delivering value-added innovation, continued investment in our core brands, and increased our share in above premium”.

According to reports, Goldman Sachs issued a note to investors saying that Molson’s performance in Canada was one of the reasons behind the unpredicted growth levels.

The note also made good reading for the MillerCoors segment, the company’s joint venture in the states with rival SABMiller, which enjoyed a 10% growth in profits.

Molson may be lining up to buy out SABMiller’s 58% stake in MillerCoors, and these results have the potential bring the company closer to this takeover.

This unprecedented growth has been reflected in the results posted by other big brewers. Recently, AB InBev posted pre-deduction earnings of 9.5%, higher than the estimated 8.2%. 

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to our newsletters

Marylebone Sales Manager

Philglas & Swiggot
Marylebone, London

Sales Administrator

Les Caves de Pyrène
Guildford, UK

General Manager

3Cs Cider
UK

Brand Manager

Hallgarten Druitt
Luton, UK

Brand Manager

Kilchoman Distillery Co Ltd
Edinburgh, UK

Wine Bar Supervisor

Henny's
London, UK

Partner Manager - On-trade - North West

Maverick Drinks
Manchester, UK

Partner Manager - On-trade - Scotland and NE

Maverick Drinks
Edinburgh, UK

Head of Marketing

Berkmann Wine Cellars
London, UK

Business Development Manager

Harviestoun Brewery Limited
Scotland - Central Belt

Pays d'Oc Tasting

London,United Kingdom
28th Jun 2018

CHILE: From The Very Top To The Downright Hot

Manchester,United Kingdom
2nd Jul 2018

CHILE: From The Very Top To The Downright Hot

Edinburgh,United Kingdom
3rd Jul 2018
Click to view more

Champagne Masters 2018

Deadline : 22nd June 2018

The Global Malbec Masters 2018

Deadline : 1st July 2018

Click to view more

The Global Malbec Masters 2017

the drinks business is proud to announce the inaugural Global Malbec Masters 2017

The Global Sparkling Masters 2017

the drinks business is thrilled to announce the launch of The Global Sparkling Masters.

Click to view more