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Sep 30, 2021
Molson Coors Q3 2021 Earnings Report
Molson Coors reported a revenue increase of 2.5% and non-GAAP diluted EPS increased by 8.0% in constant currency.
Key Takeaways
Molson Coors Beverage Company reported its third-quarter results, showing a revenue increase of 2.5% and a non-GAAP diluted EPS increase of 8.0%. The company reaffirmed its key financial guidance for 2021, driven by strong net pricing and positive brand and channel mix, which offset lower financial volumes.
Coors Light grew total share of beer in the U.S.
Above Premium portfolio's net sales revenue surpassed 25% of brand volume net sales revenue on a trailing twelve month basis.
Grew share of the U.S. Above Premium segment for two straight quarters for the first time in over five years.
Sold nearly two million cases of non-alcohol products for the first time in company history.
Forward Guidance
Molson Coors expects a mid-single digit increase in net sales revenue versus 2020 on a constant currency basis and underlying EBITDA approximately flat compared to 2020 on a constant currency basis.
Positive Outlook
- Net sales revenue: mid-single digit increase versus 2020 on a constant currency basis.
- Deleverage: We intend to maintain our investment grade rating as demonstrated by our continued deleveraging actions.
- We expect to achieve a net debt to underlying EBITDA ratio of approximately 3.25x by the end of 2021 and below 3.0x by the end of 2022.
- Underlying depreciation and amortization: approximately $800 million.
- Consolidated net interest expense: approximately $270 million, plus or minus 5%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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