On October 9, 2007, a Miller Lite and a Coors Light were on display in Chicago, as shown in the image by Scott Olson | Getty Images. Brewer Molson Coors announced that it anticipates maintaining its market share gains in the upcoming year. The company, known for producing Coors Light and Miller Lite, reported robust fourth-quarter earnings with a 9.3% increase in net sales for 2023. These revenue gains were largely attributed to consumers shifting away from AB InBev’s Bud Light products following boycotts that began in April. Molson Coors capitalized on the significant changes in consumer purchasing habits, leading to a return to profit after a loss the previous year. The company’s net income for the quarter was $103.3 million, or 48 cents a share, compared to a loss of $590.5 million, or $2.73 a share, in the same period last year. Molson’s underlying earnings were $1.19 per share, surpassing expectations.
Source: www.cnbc.com
Published: 2024-02-13 14:50:09