In This Article:
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Consolidated Net Sales Revenue (Q4): Down 1.9%.
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Underlying Pretax Income (Q4): Down 0.9%.
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Underlying Earnings Per Share (Q4): Up 9.2%.
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US Brand Volume (Q4): Down 3%.
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US Financial Volume (Q4): Down 6.7%.
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Consolidated Net Sales Revenue per Hectoliter (Q4): Growth of 4.8%.
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Consolidated Net Sales Revenue (2024): Down 0.6%.
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Underlying Pretax Income (2024): Up 5.6%.
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Underlying Earnings Per Share (2024): Up 9.8%.
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Underlying Free Cash Flow (2024): Over $1.2 billion.
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Underlying Pretax Income Margin Expansion (2024): Nearly 80 basis points.
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Cash Returned to Shareholders (2024): $1 billion through dividends and share repurchases.
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Share Repurchases (2024): $643 million to repurchase 10.9 million shares.
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Net Debt to Underlying EBITDA Ratio (2024): 2.1 times.
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Quarterly Dividend (2025): $0.47 per share, an increase of 6.8%.
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2025 Guidance - Net Sales Revenue Growth: Low-single-digit on a constant currency basis.
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2025 Guidance - Underlying Pretax Income Growth: Mid-single-digit on a constant currency basis.
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2025 Guidance - Underlying Earnings Per Share Growth: High single-digit.
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2025 Guidance - Underlying Free Cash Flow: $1.3 billion, plus or minus 10%.
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2025 Guidance - Capital Expenditures: $750 million, plus or minus 5%.
Release Date: February 13, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Molson Coors Beverage Co (NYSE:TAP) achieved significant growth in Canada across all price segments, contributing to overall portfolio strength.
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The company generated over $1.2 billion in underlying free cash flow, enabling substantial shareholder returns through dividends and share repurchases.
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Molson Coors Beverage Co (NYSE:TAP) retained a significant portion of its market share gains from 2023, particularly in the US with core brands like Coors Light and Miller Lite.
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The company successfully exited low-margin contract brewing agreements, which is expected to positively impact brewery net effectiveness and margins in 2025.
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Molson Coors Beverage Co (NYSE:TAP) is making strategic investments in premiumization and non-alcoholic beverages, including a partnership with Fever-Tree, to drive long-term growth.
Negative Points
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Consolidated net sales revenue declined by 1.9% in the fourth quarter, with a 3% decrease in US brand volume.
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The exit of the Pabst contract brewing agreement resulted in a temporary headwind, impacting US financial volume by 6.7% in the quarter.
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The EMEA and APAC regions faced challenges due to a competitive landscape in the UK and a softer industry in Central and Eastern Europe.
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Molson Coors Beverage Co (NYSE:TAP) anticipates a 1.9 million hectoliter headwind in America's financial volume in 2025 due to the termination of contract brewing volumes.
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The company faces uncertainty from geopolitical events and potential import tariffs, which could impact financial results.