Coors Sales up 6.6 Percent

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Brew Blog

Four lead brands post growth.

Coors Brewing Company, the U.S. arm of Molson Coors Brewing Company, posted 6.6 percent growth in sales to retailers during the first quarter.

From the Molson Coors earnings release:

The increase was primarily due to mid-single-digit growth of Coors Light, and double-digit growth by Blue Moon, Keystone Light and Coors Banquet. Each of the Company’s four largest U.S. brands, representing more than 93% of its U.S. volume base, achieved accelerated sales and market-share gains in the quarter. The strength of our U.S. portfolio spanned the country, resulting in significant market share gains and sales-to-retail growth in all major channels and in 47 out of 50 states — and double-digit growth in 15 of these states. Total sales volume to wholesalers grew 7.4 percent. Net sales per barrel increased 3.4 percent in the first quarter, driven primarily by positive net pricing.

Underlying pretax income in the U.S. jumped by 36 percent to $61.9 million.

In the earnings release Molson Coors CEO Leo Kiely said:

“We are very pleased with our first quarter results, which reflect continued strong momentum. Across the board, our teams have remained focused on creating profitable growth by building brands and reducing costs. Based on the strength of our brands, sales execution and cost-reduction initiatives, our U.S. and Canadian businesses once again delivered positive pricing and strong sales-to-retail and bottom-line growth. In the U.K., where challenging conditions still dominate the brewing industry, our team grew overall market share and net pricing.”

Coors and Miller Brewing Company, the U.S. arm of SABMiller plc, are parties in a proposed joint venture still subject to regulatory clearance.

The Molson Coors earnings release can be seen here.

 

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