By Laura Cooper
Shares of Molson Coors surged after the brewer reported better-than-expected sales and earnings.
Net sales in the latest quarter declined 2%, a smaller drop than analysts expected. Gavin Hattersley, the company's chief executive, said last year Molson Coors kept a large part of its big market-share gains from 2023, when a Bud Light boycott boosted sales of Miller Lite and Coors Light.
Consumers weren't as price sensitive in the latest quarter as they were over the summer, he added.
Hattersley downplayed concerns about the U.S. surgeon general recommending cancer warnings on alcohol packaging.
"Beer has long been the drink of moderation," he said. "We offer consumers a range of options including low- and no-alcohol beverages."
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(END) Dow Jones Newswires
February 13, 2025 09:26 ET (14:26 GMT)
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