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MillerCoors Delivers Profit Growth In Third Quarter

Brand Highlights for the Third Quarter

MillerCoors Premium Light STRs declined low-single digits in the third quarter versus prior year. Coors Light continued its momentum growing low-single digits for the quarter and outpacing the total premium light segment. The brand will benefit from increased fourth quarter marketing investment and visibility in national advertising. Miller Lite declined mid-single digits, representing a slight decline in performance versus the first half of the year. Sales of 12- and 16- ounce Miller Lite punch-top cans increased low-single digits, marking the first time that the Miller Lite can business has been positive since the formation of MillerCoors. Miller Lite will also invest heavily to seed the “It’s Miller Time” campaign for the remainder of the year, specifically around fall football programming. Miller64 STRs were down mid-single digits in the quarter and volume trends have improved significantly and sequentially since its re-positioning in the first quarter of 2012.

Tenth and Blake grew the MillerCoors Craft and Import portfolio by double digits in the quarter and outperformed the overall craft segment. This growth was driven primarily by Leinenkugel’s Summer Shandy and Blue Moon Belgian White. In the quarter, Leinenkugel’s Summer Shandy nearly doubled in volume versus the prior year. Blue Moon grew low double digits, attributable to marketing support around the Blue Moon lunar event in August 2012. Peroni Nastro Azzurro once again delivered strong results in the quarter, growing high-single digits.

The Economy portfolio declined mid-single digits as the company narrowed the price gaps between economy and premium beer. Miller High Life continued to build brand awareness with its “Welcome Veterans Back to the High Life” program. Keystone Light continued to drive its “Always Smooth” positioning primarily through digital engagement and localized marketing efforts.

The Premium Regular portfolio was down high-single digits with a double-digit decline by Miller Genuine Draft partly offset by continued growth of Coors Banquet, which was up low-single digits.

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