TAP Stock Recent News

Tilray CEO Irwin Simon joins 'Money Movers' to discuss the company's push into the beer category, where the company's focus now exists, and much more.

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Tilray Inc.'s stock rose Tuesday after the Canadian cannabis company said it is paying an undisclosed sum for four craft-beer brewers from Molson Coors Beverage Co. to add to its presence in the U.S. alcoholic-beverage market.

Tilray Brands would buy four craft breweries from beer maker Molson Coors in a bid to expand business beyond its range of cannabis products, the company said on Tuesday.

Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.

Shares of Molson Coors Beverage Company (TAP) jumped over 5% Tuesday after the brewing giant reported better-than-expected sales and profits for the second quarter. The company said an increase in net pricing and positive sales mix boosted its performance.

Molson Coors Beverage Company (NYSE:TAP ) Q2 2024 Earnings Conference Call August 6, 2024 8:30 AM ET Company Participants Traci Mangini - Vice President, Investor Relations Gavin Hattersley - President and CEO Tracey Joubert - CFO Conference Call Participants Bonnie Herzog - Goldman Sachs Drew Levine - JPMorgan Bill Kirk - ROTH Capital Partners Rob Ottenstein - Evercore Chris Carey - Wells Fargo Victor Ma - TD Cowen Bryan Spillane - Bank of America Michael Lavery - Piper Sandler Lauren Lieberman - Barclays Eric Serotta - Morgan Stanley Operator Good day, and welcome to the Molson Coors Beverage Company Second Quarter Earnings Conference Call. With that, I'll hand over to Traci Mangini, Vice President, Investor Relations.

Molson Coors' (TAP) Q2 results reflect gains from favorable pricing and the U.S. shipment timing, offset by a decline in the contract brewing volumes.

Molson Coors Beverage Co (NYSE:TAP), the owner of Coors Light, Miller Lite and Carling, saw net income improve 23% year on year to $425.3 million in the three months to 30 June. Lower operating costs helped to support the bottom line despite sales of $3.8 billion coming in slightly lower than the second quarter of 2023.

While the top- and bottom-line numbers for Molson Coors (TAP) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.