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Molson Coors Beverage Co Shs -B- Non-Voting - Stock Quote TAP

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Morningstar's Molson Coors Beverage Co Shs -B- Non-Voting Stock Analysis

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No-Moat Molson Coors' Focus on Portfolio Premiumization Continues to Benefit Profitability

Jaime M. Katz, CFA Senior Equity Analyst

Business Strategy and Outlook

| Jaime M. Katz, CFA |

Molson Coors has long been a mainstay of the global beer industry, with North American staples like Coors and Miller and leading European brands such as Carling. However, these trademarks that once were a strength are now mostly albatrosses, in our opinion, largely declining in relevance and volume. Moreover, while they are starting to see improvements, the firm's legacy brands have proved difficult to parlay into higher-end categories with more propitious growth prospects, as innovation efforts in this regard have seen mixed success. With the firm's dominance largely in secularly challenged segments of the malt category, we don't believe this positioning reaps advantages sufficient for a moat.

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Molson Coors Beverage Co Shs -B- Non-Voting's Company Profile

Business Description

Molson Coors is the fifth-largest beer producer globally, boasting top-two positioning in the U.S., Canada, and United Kingdom. It brews and markets a slew of company-owned brands including Blue Moon, Coors, Miller, Vizzy, and Staropramen. It also sells various partner brands in certain locales such as Topo Chico (licensed from Coca-Cola), Amstel and Dos Equis in Canada (through an exclusive import/license arrangement with Heineken), and Corona in Central Europe (through an agreement with Anheuser-Busch InBev). The firm's go-to-market approach differs by geography as well, primarily using independent distributors in the U.S. but deploying hybrid models in Canada and Europe.

NH353, P.O. Box 4030
Golden, CO, 80401
T +1 303 279-6565
Industry Beverages - Brewers
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Slow Growth
Employees 16,300

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