Molson Coors Stock Tanks After Poor First Quarter

Share This Article

Wall Street expected a slight increase in sales, but Molson Coors reported a decline in its US, Canada, and European markets. As a result, their stock (TAP) fell 13% and is already down 25% for the year. That’s the lowest it’s been in four years.

The Colorado-based brewery is known for popular brands such as Coors Light, Miller Lite, Molson Canadian and Blue Moon. However, it seems they’re less popular these days.

Check Out the Latest Craft Beer Review

Summer is a New England-style American Double IPA by Tree House Brewing Company that features orange, mango, pineapple, and bready oat malt.

Summer

Summer is a New England-style American Double IPA by Tree House Brewing Company that features orange, mango, pineapple, and bready oat malt. Read More

The brewery blamed its tepid sales on a couple of factors:

First, Molson Coors attempted to roll out a new ordering system but there were glitches. This caused a delay in getting its beer to distributors and wholesalers. And second, the brewery blamed inclement weather in January and February for its 6% drop in sales.

Poor weather in January and February is hardly a surprise and Wall Street wasn’t buying it.

Likewise, Anheuser-Busch InBev (BUD) reported negative earnings for their first quarter and their stock has dropped 9.3%.

But it’s not all doom and gloom for some of the biggest names in beer. Constellation Brands (STZ), owners of Corona, Modelo, Ballast Point, and Funky Buddha, reported strong sales during their first quarter. And Boston Beer Company (SAM), owner of the Samuel Adams brand, has rebounded nicely after a tough few months.

Leave a Reply

Your email address will not be published.

News

Latest Craft Beer News

Beer Lab HI Releases “Chai Yo” Belgian-style Blond Ale

The latest limited release from Beer Lab HI, the “Chai Yo, Thai Tea & Milk Sugar Ale”, a Belgian-style Blond Ale, is now available from the Honolulu-based brewery. Read More

Bell’s Brewery to Auction Two Hearted Ale Hockey Jerseys to Benefit Local Organizations

Bell’s Brewery, Inc. and Kalamazoo Wings have teamed up to support two local organizations with a special, limited edition Two Hearted hockey jersey auction. Read More

Upper Hand Brewery Expands Distribution to Michigan’s Mitten

Upper Hand Brewery will end its drought of availability below the Mackinac Bridge with the distribution of its beer to Michigan’s Lower Peninsula this Fall. Read More