This firm’s short-term prospects are limited due to COVID-19 restrictions. However, it should survive the economic downturn and prosper as the economy re-opens in the future.
MOLSON COORS CANADA INC. (Toronto symbols TPX.A and TPX.B; www.molsoncoors.com) gives you a stake in one of the world’s leading beer brewers.
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Due to slowing beer sales, Molson cut its planned capital spending for 2020 by $200 million (all amounts except share prices and market cap in U.S. dollars). It’s also spending less on advertising. In addition, the company has suspended its quarterly dividend payments of $0.57 a share for the rest of 2020. That should save it roughly $370 million.
Molson is also selling less-important assets. Those include its brewery in Irwindale, California, for $150 million.
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Molson is launching new beverages. For example, it has now teamed up with Coca-Cola Co. (New York symbol KO) to launch Topo Chico Hard Seltzer in the U.S.
The company has also formed a new 50/50 joint venture with privately held D.G. Yuengling & Son. Yuengling sells its products in 22 eastern states. Under this new deal, Molson will brew and distribute Yuengling’s products for the western half of the U.S. starting in the second half of 2021.
Yuengling is a strong brand in its markets, and the deal will help Molson offset declining sales of its own brands as consumers shift to other drinks like hard seltzers. However, the second wave of COVID-19 could keep bars and restaurants closed.
While demand for these drinks are strong, Molson’s short-term outlook remains weak as many bars and restaurants continue to operate at reduced capacity due to the COVID-19 pandemic.
I’m not so sure things will get quite back to normal for the big brewers like Molson-Coors. Granted, my sample size is small, but myself and others I know have been taking to heart the “buy local” sentiment being promoted during the pandemic to keep small local businesses alive. In Ontario at least, this has meant ordering from small microbreweries that have been allowed to deliver their product directly to doorsteps. We like what we’ve been trying. There is incredible variety within delivery range of Ottawa. Even out of town brewers make a run once a week. I can see continuing to make most of my beer purchases this way in the future — particularly if work from home continues and someone is home to receive the delivery.
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I’m not so sure things will get quite back to normal for the big brewers like Molson-Coors. Granted, my sample size is small, but myself and others I know have been taking to heart the “buy local” sentiment being promoted during the pandemic to keep small local businesses alive. In Ontario at least, this has meant ordering from small microbreweries that have been allowed to deliver their product directly to doorsteps. We like what we’ve been trying. There is incredible variety within delivery range of Ottawa. Even out of town brewers make a run once a week. I can see continuing to make most of my beer purchases this way in the future — particularly if work from home continues and someone is home to receive the delivery.
BUY T.BBD support 0.71
T..BB Support $17.34 coming down