Molson Coors Beats Estimates on Price Hikes and Premium Beer
The brewer reported first-quarter sales of $2.35 billion and earnings of 62 cents per share. Gains in premium brands helped offset a 3% drop in total volumes.
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MOLSON COORS BEVERAGE CO - B beat Q1 profit estimates as underlying EPS rose 24% to $0.62, driven by price hikes and premium brand demand. Net sales rose 2% to $2.35B, exceeding the $2.33B expected by LSEG analysts. Investors are weighing margin expansion from premiumization against a 3% volume decline in the United States and Europe.
