Q4 2024 Molson Coors Beverage Co Earnings Call Transcript
Key Points
- Molson Coors Beverage Co (TAP) achieved significant growth in Canada across all price segments, contributing to overall portfolio strength.
- The company generated over $1.2 billion in underlying free cash flow, enabling substantial shareholder returns through dividends and share repurchases.
- Molson Coors Beverage Co (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.
- The company successfully exited low-margin contract brewing agreements, which is expected to positively impact brewery net effectiveness and margins in 2025.
- Molson Coors Beverage Co (TAP) is making strategic investments in premiumization and non-alcoholic beverages, including a partnership with Fever-Tree, to drive long-term growth.
- Consolidated net sales revenue declined by 1.9% in the fourth quarter, with a 3% decrease in US brand volume.
- The exit of the Pabst contract brewing agreement resulted in a temporary headwind, impacting US financial volume by 6.7% in the quarter.
- The EMEA and APAC regions faced challenges due to a competitive landscape in the UK and a softer industry in Central and Eastern Europe.
- Molson Coors Beverage Co (TAP) anticipates a 1.9 million hectoliter headwind in America's financial volume in 2025 due to the termination of contract brewing volumes.
- The company faces uncertainty from geopolitical events and potential import tariffs, which could impact financial results.
Good morning, and welcome to the Molson Coors Beverage Company fourth quarter and 2024 fiscal year earnings conference call. With that, I'll hand it over to Greg Tierney, Vice President, FP&A and Commercial Finance.
Thank you, operator, and hello, everyone. Following prepared remarks today, we look forward to taking your questions. (Event Instructions) Also, I encourage you to review our earnings release and earnings slides, which are posted to the IR section of our website and provide detailed financial and operational metrics.
Today's discussion includes forward-looking statements -- actual results or trends could differ materially from our forecast. For more information, please refer to the risk factors discussed in our most recent filings with the SEC. We assume no obligation to update forward-looking statements except as required by applicable law. The definitions of or reconciliations for any non-US GAAP measures are included in our earnings release.
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