Molson Coors Reports 2017 Second Quarter Result

Molson Coors Reports 2017 Second Quarter Result

DENVER, Colo., and MONTREAL, Quebec – August 2, 2017 – Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) today reported results for the 2017 second quarter.  Molson Coors president and chief executive officer Mark Hunter said, "In the second quarter, we continued to drive our First Choice for Consumers and Customers agenda, with laser focus on strengthening our core brands, premiumizing our portfolio, accelerating our international footprint, enhancing our customer partnerships, and driving the integration of MillerCoors and the Miller brands globally to unlock synergies and other cost savings.  As a sign of progress against this agenda, our team delivered solid growth in constant currency net sales, global brand volume, underlying EBITDA, net income, earnings per share and free cash flow.  Additionally, we exceeded our goals for cash generation and debt reduction in the first half of this year and have maintained our investment-grade debt ratings.  Our second quarter performance was in-line with our expectations, and we remain on track to deliver our 2017 business and financial plans, cost savings targets and cash flow goals." 

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MOLSON COORS AND HORNELL BREWING CO., INC., AN AFFILIATE OF ARIZONA BEVERAGES, SIGN LICENSING AGREEMENT FOR NEW ARNOLD PALMER SPIKED HALF & HALF
Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) and Hornell Brewing Co., Inc., affiliate of AriZona Beverages, announced today that they have entered into a partnership agreement whereby Molson Coors will market and distribute a new Flavored Malt Beverage (FMB) brand - Arnold Palmer Spiked Half & Half – in the United States through its US division, MillerCoors. The brand will be introduced later this year in select markets followed by a full national launch in early 2018.
Molson Coors Reports 2017 First Quarter Results
Molson Coors Brewing Company today reported U.S. GAAP net income from continuing operations attributable to MCBC of $201.9 million for the first quarter, down from pro forma net income of $257.4 million a year ago.
Proposed Offering of Euro-Denominated Senior Floating Rate Notes
Molson Coors announced today that it has commenced an offering of euro-denominated senior floating rate notes. Molson Coors previously announced the pricing of an offering of $1.0 billion aggregate principal amount of its U.S. dollar-denominated senior notes, consisting of $500 million principal amount of 1.90% Senior Notes due 2019 and $500 million principal amount of 2.25% Senior Notes due 2020, which it expects to close on March 15, 2017, subject to customary closing conditions. The aggregate principal amount of this offering, together with the Concurrent Offering, is expected to be equivalent to approximately $1.3 billion.

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