Molson Coors Beverage Company (NYSE:TAP) has announced its first-quarter financial results for 2024, showcasing significant growth with a 10.7% increase in net sales and a notable rise in income before income taxes by 160.5%.
The company’s performance was buoyed by growth across both its business units, with underlying income before income taxes rising by 68.8% on a constant currency basis.
This performance is particularly commendable as it continues the momentum from previous years, reflecting the effectiveness of Molson Coors’ strategic initiatives.
According to President and CEO Gavin Hattersley, "After back-to-back years of delivering on our growth objectives, we continued that momentum in the first quarter of 2024 with double-digit top and bottom-line growth."
Following the quarter's performance, Molson Coors reaffirmed its full-year guidance for 2024, aiming for continued top and bottom-line growth despite early indicators of industry softness.