Molson Coors' Efforts to Restore Top-Line Growth and Extract Costs Reflected in 3Q Results
Narrow-moat Molson Coors posted improving sales and margin trends in the third quarter, with constant-currency net sales expanding 2.5%, marking a recovery from the declines in the first two quarters, and adjusted EBITDA margin expanding 190 basis points to nearly 26%. Above-premium brands grew around 3.6% in the quarter and now contribute around 21% of the firm's portfolio versus 20% last year. We think these results show that the firm is making progress in its strategic initiatives, which incl...Molson Coors Brewing is a holding company. Through its subsidiaries, the company is a brewer and has a portfolio of brands, including Blue Moon, Coors Banquet, Coors Light, Miller Lite, Staropramen, Carling, Molson Canadian and other brands, as well as craft and specialty beers such as Creemore Springs, Cobra, Doom Bar, Henry's Hard and Leinenkugel's. The company's segments include: MillerCoors LLC operating in the U.S.; Molson Coors Canada operating in Canada; Molson Coors Europe operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the U.K. and various other European countries; and Molson Coors International operating in various other countries.
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