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Molson Coors Brewing Co (TAP.N)

TAP.N on New York Stock Exchange

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50,415
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Latest Key Developments (Source: Significant Developments)

Molson Coors Reports Q1 GAAP Earnings Per Share Of $0.70
Wednesday, 1 May 2019 

May 1 (Reuters) - Molson Coors Brewing Co ::MOLSON COORS REPORTS 2019 FIRST QUARTER RESULTS.Q1 REVENUE $2.3 BILLION VERSUS REFINITIV IBES ESTIMATE OF $2.33 BILLION.Q1 NON-GAAP EARNINGS PER SHARE $0.52.Q1 GAAP EARNINGS PER SHARE $0.70.Q1 EARNINGS PER SHARE ESTIMATE $0.58 -- REFINITIV IBES DATA.MANAGEMENT REAFFIRMS INCREASED DIVIDEND EXPECTATIONS IN 2019.COMMITTED TO FREE CASH FLOW AND COST SAVINGS TARGETS, AS WELL AS FURTHER DELEVERAGING IN 2019.U.S. BRAND VOLUME DECREASED 3.8% ON A TRADING-DAY-ADJUSTED BASIS FOR QUARTER.MOLSON COORS - QTRLY WORLDWIDE BRAND VOLUME OF 18.2 MILLION HECTOLITERS DECREASED 4.7% AND FINANCIAL VOLUME OF 20.1 MILLION HECTOLITERS DECREASED 3.4%.SEES 2019 UNDERLYING FREE CASH FLOW: $1.4 BILLION, PLUS OR MINUS 10%..SEES 2019 CAPITAL SPENDING: APPROXIMATELY $700 MILLION, PLUS OR MINUS 10%..SEES 2019 CONSOLIDATED UNDERLYING COGS PER HECTOLITER: MID-SINGLE DIGIT INCREASE ON A CONSTANT CURRENCY BASIS.MANAGEMENT REAFFIRMS INCREASED DIVIDEND EXPECTATIONS.  Full Article

Molson Coors Brewing Exec - Expect To Launch Truss As Nonalcoholic, Cannabis-Infused Beverages Portfolio In The Fall Of 2019 Following Legalization In Canada
Tuesday, 12 Feb 2019 

Feb 12 (Reuters) - Molson Coors Brewing Co ::EXEC - ANTICIPATE FURTHER CONTRACTION OF THE U.S. BEER INDUSTRY VOLUMES - CONF CALL.EXEC - PLAN TO OFFSET FURTHER CONTRACTION IN THE U.S. BEER INDUSTRY VOLUMES BY ADDING RESOURCES TO ACCELERATE CO'S PORTFOLIO PREMIUMIZATION & IMPROVE OUR INDUSTRY VOLUME SHARE TREND - CONF CALL.EXEC - EXPECT TO UNLOCK ANOTHER $450 MILLION OF SAVINGS OVER THE PERIOD 2020 THROUGH 2022 - CONF CALL.EXEC - EXPECT TO LAUNCH TRUSS AS NONALCOHOLIC, CANNABIS-INFUSED BEVERAGES PORTFOLIO IN THE FALL OF 2019 FOLLOWING LEGALIZATION IN CANADA - CONF CALL.  Full Article

Molson Coors Reports 2018 Full Year And Fourth Quarter Results
Tuesday, 12 Feb 2019 

Feb 12 (Reuters) - Molson Coors Brewing Co ::MOLSON COORS REPORTS 2018 FULL YEAR AND FOURTH QUARTER RESULTS.QTRLY EPS OF $0.35.4TH QUARTER (4TH Q) WORLDWIDE BRAND VOLUME DECREASED 1.5 PERCENT.MOLSON COORS - MANAGEMENT REAFFIRMS PREVIOUSLY UPDATED 2017-2019 $700 MILLION COST SAVINGS GUIDANCE & ANNOUNCES NEW $450 MILLION COST SAVINGS PLAN FOR 2020-2022.QTRLY UNDERLYING (NON-GAAP) EPS OF $0.84.MANAGEMENT REMAINS COMMITTED TO DELEVERAGE TARGET AND REITERATES DIVIDEND EXPECTATIONS.QTRLY UNITED STATES BUSINESS NET SALES PER HECTOLITER GREW 2.7 PERCENT.QTRLY NET SALES $2.419 BILLION, DECREASED 6.2 PERCENT.SEES 2019 CAPITAL SPENDING ABOUT $700 MILLION, PLUS OR MINUS 10 PERCENT..SEES 2019 UNDERLYINGFREE CASH FLOW $1.4 BILLION, PLUS OR MINUS 10 PERCENT..QTRLY NET SALES DECREASED 6.2 PERCENT DUE TO LOWER VOLUME IN U.S. AND CANADA, PARTIALLY OFFSET BY HIGHER NET PRICING.QTRLY WORLDWIDE BRAND VOLUME OF 22.0 MILLION HECTOLITERS DECREASED 1.5 PERCENT, DUE TO LOWER VOLUME IN U.S. AND CANADA.SEES 2019 INTERNATIONAL: STRONG DOUBLE DIGIT PERCENTAGE INCREASE TO UNDERLYING EBITDA IN CONSTANT CURRENCY..FOCUSED ON FURTHER STRONG FREE CASH FLOW DELIVERY AND DELEVERAGE SUPPORTED BY MORE THAN $200 MILLION OF COST SAVINGS IN 2019.PLAN TO ACHIEVE ABOUT 3.75X RATING AGENCY LEVERAGE AROUND MIDDLE OF 2019.FOCUSED ON FURTHER STRONG FREE CASH FLOW DELIVERY AND DELEVERAGE SUPPORTED BY FURTHER $450 MILLION ACROSS 2020 - 2022.  Full Article

Goldman Sachs Says Impact Of Brexit On U.S. Equity Earnings To Be Limited
Wednesday, 23 Jan 2019 

Jan 23 (Reuters) - :GOLDMAN SACHS SAYS BREXIT UNCERTAINTY REMAINS A CONCERN FOR S&P 500 STOCKS WITH THE HIGHEST UK EXPOSURE.GOLDMAN SACHS SAYS IN 2018, U.S. STOCKS WITH HIGHEST SHARE OF UK SALES LAGGED DOMESTIC-FACING STOCKS BY MORE THAN 1000 BPS BETWEEN JAN AND MID-DEC.GS SAYS SINCE DELAY OF BREXIT VOTE, UK-FACING U.S. STOCKS HAVE OUTPERFORMED BY 190 BPS, WITH POTENTIAL FOR UPSIDE IF A CLEAR PATH FORWARD EMERGES.GS SAYS IMPACT OF BREXIT ON AGGREGATE U.S. EQUITY EARNINGS WILL LIKELY BE LIMITED, IRRESPECTIVE OF THE OUTCOME.  Full Article

Riposte Capital Calls On Cannabis Licensed Producer, Hexo Corp., To Initiate A Review Of Strategic Alternatives
Thursday, 6 Sep 2018 

Sept 6 (Reuters) - Hexo Corp ::RIPOSTE CAPITAL CALLS ON LEADING CANNABIS LICENSED PRODUCER, HEXO CORP, TO INITIATE A REVIEW OF STRATEGIC ALTERNATIVES.SENT LETTER TO HEXO'S CHIEF EXECUTIVE OFFICER AND BOARD OF DIRECTORS.ENCOURAGES BOARD TO INITIATE A REVIEW OF STRATEGIC ALTERNATIVES ON HEXO CORP, INCLUDING TAKING COMPANY PRIVATE.ENCOURAGES BOARD TO INITIATE A REVIEW OF STRATEGIC ALTERNATIVES ON HEXO CORP, INCLUDING A DIRECT INVESTMENT FROM MOLSON COORS.ENCOURAGES BOARD TO INITIATE REVIEW OF STRATEGIC ALTERNATIVES ON HEXO, INCLUDING MERGER WITH A COMPARABLY-SIZED LP.  Full Article

Molson Coors Brewing Says "Committed To 2018 Guidance Despite Q1 Challenges"
Wednesday, 6 Jun 2018 

June 6 (Reuters) - Molson Coors Brewing Co ::MOLSON COORS BREWING CO SAYS 2018 UNDERLYING FCF UNCHANGED AT $1.5 BILLION +/- 10 PERCENT - SEC FILING.MOLSON COORS BREWING CO - "COMMITTED TO 2018 GUIDANCE DESPITE Q1 CHALLENGES".MOLSON COORS BREWING - EXPECT DIVIDEND PAYOUT RATIO OF 20%-25% OF TRAILING ANNUAL UNDERLYING EBITDA AFTER ACHIEVING ABOUT 3.75X LEVERAGE AROUND MID 2019.MOLSON COORS BREWING ON WORKING CAPITAL SAYS EXPECTING $100 MILLION IN ADDITIONAL IMPROVEMENT BY THE END OF 2019.  Full Article

Molson Coors Brewing Co Files For Potential Mixed Shelf Offering; Size Not Disclosed ‍​
Friday, 2 Mar 2018 

March 2 (Reuters) - Molson Coors Brewing Co ::MOLSON COORS BREWING CO FILES FOR POTENTIAL MIXED SHELF OFFERING; SIZE NOT DISCLOSED- SEC FILING ‍​.  Full Article

Molson Coors Qtrly U.S. GAAP Net Income Per Diluted Share $2.72
Wednesday, 14 Feb 2018 

Feb 14 (Reuters) - Molson Coors Brewing Co ::MOLSON COORS REPORTS 2017 FULL YEAR AND FOURTH QUARTER RESULTS.QTRLY NET SALES $2.58 BILLION, INCREASED 4.5 PERCENT.QTRLY U.S. GAAP NET INCOME PER DILUTED SHARE $ 2.72.QTRLY UNDERLYING NET INCOME PER DILUTED SHARE $0.62.Q4 EARNINGS PER SHARE VIEW $0.56, REVENUE VIEW $2.59 BILLION -- THOMSON REUTERS I/B/E/S.QTRLY WORLDWIDE BRAND VOLUME OF 22.4 MILLION HECTOLITERS DECREASED 1.1 PERCENT.QTRLY UNITED STATES BUSINESS DOMESTIC NET SALES PER HECTOLITER GREW 1.4 PERCENT.RECOGNIZED A $433.9 MILLION DISCRETE TAX BENEFIT IN QUARTER DUE TO U.S. TAX REFORM.SEES 2018 UNDERLYING FREE CASH FLOW OF $1.5 BILLION, PLUS OR MINUS 10 PERCENT.SEES 2018 CAPITAL SPENDING OF APPROXIMATELY $670 MILLION, PLUS OR MINUS 10 PERCENT.MOLSON COORS BREWING - QTRLY U.S. GAAP NET INCOME FROM CONTINUING OPERATIONS IMRPOVED, DRIVEN BY DISCRETE TAX BENEFIT DUE TO REVALUATION OF DEFERRED TAX BALANCES.SEES COST SAVINGS OF APPROXIMATELY $210 MILLION IN 2018.MOLSON COORS BREWING- 2018 RESULTS TO BE IMPACTED BY ADOPTION OF NEW REVENUE RECOGNITION STANDARD, GUIDANCE CHANGING PRESENTATION OF PENSION, OPEB COSTS.SEES UNDERLYING EFFECTIVE TAX RATE IN THE RANGE OF 18 TO 22 PERCENT FOR 2018.  Full Article

Athene Holding says Under Pension Buyout Agreement With Millercoors, Co's Unit Will Issue Group Annuity Contract To Millercoors​
Friday, 1 Dec 2017 

Dec 1 (Reuters) - Athene Holding Ltd ::ATHENE HOLDING LTD - ‍ UNDER PENSION BUYOUT AGREEMENT WITH MILLERCOORS, CO'S UNIT WILL ISSUE A GROUP ANNUITY CONTRACT TO MILLERCOORS​.ATHENE HOLDING LTD - ‍ UNDER AGREEMENT WITH MILLERCOORS, UNIT WILL ISSUE INDIVIDUAL ANNUITY CERTIFICATES TO APPLICABLE RETIREES AND BENEFICIARIES​.ATHENE HOLDING - ‍ ATHENE ANNUITY AND LIFE COMPANY WILL HAVE DIRECT PAYMENT RESPONSIBILITY FOR ALL LIABILITIES COVERED IN TRANSACTION WITH MILLERCOORS​.  Full Article

MillerCoors Purchases Group Annuity Contract to Secure Pension Benefits
Friday, 1 Dec 2017 

Dec 1 (Reuters) - Molson Coors Brewing Co :MOLSON COORS BREWING CO - CO' UNIT MILLERCOORS LLC, CLOSED ON AN AGREEMENT TO PURCHASE A GROUP ANNUITY CONTRACT FROM ATHENE ANNUITY AND LIFE COMPANY.MOLSON COORS BREWING - STARTING MAY 1, 2018, ATHENE WILL BEGIN MAKING BENEFIT PAYMENTS TO PLAN PARTICIPANTS ALONG WITH PROVIDING ADMINISTRATIVE SERVICES.MOLSON COORS BREWING CO - BY TRANSFERRING PENSION OBLIGATIONS TO ATHENE, MILLERCOORS WILL REDUCE PENSION PROJECTED BENEFIT OBLIGATION BY OVER $900 MILLION.MOLSON COORS BREWING CO - UNDER DEAL PLAN PARTICIPANTS WILL RECEIVE SAME MONTHLY BENEFIT THEY WERE PREVIOUSLY RECEIVING FROM PLAN.MOLSON COORS BREWING-UNDER AGREEMENT, ATHENE WILL ASSUME FROM MILLERCOORS PENSION PLAN OBLIGATIONS TO PAY FUTURE PENSION BENEFITS.  Full Article

PRESS DIGEST- New York Times business news - March 22

March 22 The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.