Molson Coors’ Top Line Contracts in First Quarter as Softness in Domestic Beer Market Persists
Narrow-moat Molson Coors began its fiscal year on shaky terms, as net sales declined around 7% in constant currency and underlying EBITDA margin declined 310 basis points to 18%. Top-line declines were driven by negative volume performance in the firm’s U.S. (brand volume down 3.8%) and Canada (3.3% decline) segments, as industrywide challenges, including heightened competition from craft players, continued to weigh on results. Further, volume deleverage led to gross margin contraction in each o...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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