Molson Coors sees big profit boost
Molson Coors reported its profit nearly tripled, as it saw a 6.4% spike in ad spend for Q1 to support brands and innovation.
The company says its first-quarter net income rose to $207.8 million, from $72.5 million the same period prior, net sales increased 10.7%, and that “significant progress has been achieved amidst industry softness in the U.S. and Canada” in 2024.
In four months, new long-term marketing campaigns launched, starting with Coors Light in Super Bowl, which became the top on premise share gainer stateside, as per Nielsen, the company says.
Canada brand volumes increased 3.6%, driven by growth in above premium brands, which includes Blue Moon, Peroni and its recently launched Madrí.
Its above premium portfolio and beyond beer, benefited from continued growth from “winning innovations” like Simply Spiked in Canada.
Coors Light grew a full share point in Canada year to date, Molson Coors says. It’s anchored by the “Choose Chill” campaign, which “helped turn the brand around,” it said, in Tuesday morning’s quarterly earnings call.
Miller Lite was the fastest growing above premium brand in Canada. Molson’s PWHL partnership has been “very positively received by fans and retailers alike” the company says. Molson also promises to have a “strong presence at the Olympics as the official beer sponsor of Team Canada.”
Coca-Cola boosts marketing investment
Coca-Cola is reporting a profit and net sales spike, this as it boosted its marketing spend.
The CPG says it continues to focus on marketing, “which connects consumption occasions with live experiences and consumer passion points.” The company reports that its first-quarter net income was $3.18 billion, up from $3.11 billion, a year earlier. Net sales rose 3% to $11.30 billion, and the company raised its guidance.
For North America, unit case volume was even as growth in juice, value-added dairy and plant-based beverages, and Trademark Coca-Cola was offset by a decline in water, sports drinks, coffee and tea. The company gained value share in total non-alcoholic ready to drink (NARTD) beverages, driven by sparkling soft drinks, value-added dairy, juice and water.
With consumers increasing engagement across various social media platforms, the company launched Coca-Cola Happy Tears Zero Sugar, its first product sold exclusively on social media in the United States and Great Britain.
Restaurant Brands International (RBI) boasts solid profits
The parent of Tim Hortons, Burger King, Popeyes Louisiana Kitchen and Firehouse Subs is reporting an 18% profit boost from $328 million versus $277 million in the prior year.
Total revenue of $1.74 billion topped analyst expectations of $1.69 billion.
For Q1, consolidated comparable sales increased 4.6% and net restaurants grew 3.9% versus the prior year and system-wide sales increased 8.1% year-over-year.
In Canada, Tim Hortons had system-wide sales growth of 8.3% and a comparable sales boost of 7.5%.
The numbers, RBI says, reflect the “effectiveness of each brand’s marketing, operations and growth initiatives.”
