Molson Coors bullish on beer as AB InBev cedes market share

Molson Coors believes shifts in the beer industry and its boosted market share are “permanent” changes, after it saw consistent growth of its main brands over the last nine months, the company’s CEO Gavin Hattersley said on the company’s quarterly earnings call.

The company beat Wall Street earnings predictions, with 9.3% net sales growth in 2023 and 6% revenue growth compared to its previous quarter. Analysts underestimated the lasting impact of the consumer boycott of AB InBev’s Bud Light that began last spring.

The maker of Coors Light has capitalized on the weaker position its rival in the beer category is in, boosting its marketing spending 19% in the last quarter.

Food Dive