BalkanCat
Molson Coors Beverage Company (NYSE:CLAP) CEO Gavin Hattersley and CFO Tracey Joubert discussed current beer trends in a side chat with Evercore ISI on Tuesday.
October was recorded as a difficult month for the beer industry with Rising prices were a factor, but the trend is said to have improved in November. Notably, the TAP said it does not see a decline in trade as US consumers remain resilient in the face of macroeconomic headwinds. In particular, the Miller Lite and Coors Light brands continued to grow well in Q4.
Up north, Canadian operations are expected to return to full inventory position for TAP in Q4 following headwinds in Q3. Miller Lite is also doing well in Canada, while Seltzer’s business in Canada outstrips the US business driven by Vizzy, Coors Seltzer and Topo Chico.
Molson executives also spoke about the company’s capital allocation focus, which remains on reinvestment, debt repayment and dividends. TAP is still looking for a leverage ratio of less than 3.0x by the end of the year.
Alpha Quant Search Ranking on TAP switch to Buy from Hold on Nov 4.
