This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Molson Coors Reports Higher Net Sales And Underlying After-Tax Income For The Second Quarter

COGS per hectoliter increased 2.5 percent driven by packaging innovation, brand premiumization and brewing material costs, partially offset by cost savings initiatives.

MG&A costs increased 3.1 percent, due to slightly increased marketing spending related to the Miller64 brand re-launch and increased spending behind new products and packaging innovations, partially offset by lower information systems costs.

Depreciation and amortization expenses for MillerCoors in the second quarter were $73.0 million and additions to tangible and intangible assets totaled $47.6 million.

Central Europe Business (Pro forma U.S. GAAP) (4)

Central Europe pro forma underlying pretax income decreased 36.6 percent to $46.2 million in the quarter. Positive volume and net pricing were more than offset by unfavorable foreign currency movements, geographic and channel mix, and input cost inflation. These results reflect a negative impact on underlying earnings of approximately $9 million from foreign currency fluctuations.

Central Europe pro forma sales volume increased 1.4 percent. Overall MCCE market share was up slightly in the quarter.

Pro forma net sales per hectoliter increased 2 percent in local currency due to positive net pricing.

Pro forma COGS per hectoliter increased 11 percent in local currency, primarily driven by increased sales of innovative products and packages and input cost inflation, particularly malt, utilities and fuel.

Pro forma MG&A expenses increased 8 percent in local currency, due to increased marketing behind product innovation and increased bad debt expenses.

United Kingdom Business

U.K. underlying pretax income decreased 19.3 percent to $28.0 million in the quarter, due to lower volume, higher pension expense and higher marketing investment, partly offset by lower general and administrative costs. These results reflect a negative impact on underlying earnings of approximately $1 million from a 3.1 percent depreciation of the British Pound versus the U.S. Dollar.

4 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs