Molson Coors Says US Beer Demand Sinks In "Challenged Macroeconomic Environment" [zero hedge]
Molson Coors Beverage Company Class B (TAP)
Last molson coors beverage company class b earnings: 4/30 07:00 am
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US:NYSE Investor Relations:
ir.molsoncoors.com/overview/default.aspx
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Source: zero hedge
Molson Coors Says US Beer Demand Sinks In "Challenged Macroeconomic Environment" Molson Coors Beverage Co., the company behind Miller Lite, Molson Canadian, and Blue Moon, reported third-quarter sales that missed Wall Street expectations and forecasted a decline for the year. The brewer cited a challenging macroeconomic environment in the US that pressured consumers, reducing beer demand for the quarter. For the quarter ending Sept. 30, net sales declined 7.8% to $3.04 billion, below the Bloomberg consensus of $3.13 billion. The brewer noted that its European and Asian business units performed strongly, as did Canada within its Americas business unit, but it pointed to an extraordinarily weak environment in the US. "However, the US was challenged with the macroeconomic environment along with anticipated unfavorable shipment timing and the wind-down of a contract brewing agreement contributing to a US financial volume decline of 17.9%," Molson wrote in a press release under the CEO AND
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Earnings
- 11/7/24 - Beat
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Sec Filings
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- 11/7/24 - Form 8-K
- 10/18/24 - Form 8-K
- TAP's page on the SEC website