January 21, 2017 12:33 AM ET

Beverages

Company Overview of MillerCoors LLC

Company Overview

MillerCoors LLC produces, markets, and sells beer brands in the United States and Puerto Rico. Its principal brands include Coors Light, Miller Lite, Blue Moon, Coors Banquet, Keystone Light, Leinenkugel's, Miller Genuine Draft, Miller High Life, Coors Peak, Hamm’s, Icehouse, Mickey’s, Miller 64, Miller Fortune, Milwaukee’s Best, Old English 800, and Steel Reserve. The company also brews or distributes under the George Killian's Irish Red and Redd's license brands, as well as the Foster's and Molson brands. In addition, its hard cider brands comprise Crispin and Smith & Forge; and flavored malt beverages include the Henry’s hard sodas. The company was founded in 2008 and is headquartered in ...

250 South Wacker Drive

Chicago, IL 60606

United States

Founded in 2008

Key Executives for MillerCoors LLC

Chief Executive Officer and Director
Age: 53
Chief Executive Officer of Molson Coors Canada and president of Molson Coors Canada
Age: 50
Chief Executive Officer of Molson Coors International and President of Molson Coors International
Director, Chief Executive Officer of Molson Coors Brewing Company and President of Molson Coors Brewing Company
Age: 53
Chief Executive Officer of Molson Coors Europe and President of Molson Coors Europe
Age: 48
Compensation as of Fiscal Year 2016.

MillerCoors LLC Key Developments

MillerCoors LLC Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016

MillerCoors LLC reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported net sales of $2,007.7 million against $2,000.0 million a year ago. Operating income was $373.4 million against $323.0 million a year ago. Income before income taxes and non-controlling interests was $374.0 million against $322.9 million a year ago. Net income attributable to MillerCoors LLC was $369.2 million against $316.5 million a year ago. The increase in net income was driven primarily by higher net pricing, positive sales mix and lower cost of goods sold. MillerCoors sales-to-retail volume (STRs) decreased 4.0% in the third quarter and sales-to-wholesalers volume (STWs) was down 0.6%. For the nine months, the company reported, net sales of $5,950.5 million against $5,977.3 million a year ago. Operating income was $1,145.6 million against $1,125.7 million a year ago. Income before income taxes and non-controlling interests was $1,147.9 million against $1,129.3 million a year ago. Net income attributable to MillerCoors LLC was $1,134 million against $1,108.3 million a year ago. Non-GAAP underlying net income was $377.5 against $344.4 million a year ago.

MillerCoors LLC Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016

MillerCoors LLC reported unaudited earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported net sales of $2,007.7 million compared to $2,000.0 million a year ago. Operating income was $373.4 million compared to $323.0 million a year ago. Income before income taxes and non-controlling interests was $374.0 million compared to $322.9 million a year ago. Net income attributable to the company was $369.2 million compared to $316.5 million a year ago. Non-GAAP underlying net income attributable to the company was $377.5 million compared to $344.4 million a year ago. Net income increase by 16.7%, driven by lower special charges related to the closure of the Eden brewery this year, along with higher net pricing, positive sales mix and lower COGS. Underlying net income increased by 9.6%, driven by higher net pricing, positive sales mix and lower COGS. For the nine months, the company reported net sales of $5,950.5 million compared to $5,977.3 million a year ago. Operating income was $1,145.6 million compared to $1,125.7 million a year ago. Income before income taxes and non-controlling interests was $1,147.9 million compared to $1,129.3 million a year ago. Net income attributable to the company was $1,134.0 million compared to $1,108.3 million a year ago. Non-GAAP underlying net income attributable to the company was $1,218.4 million compared to $1,136.2 million a year ago. Net cash provided by operating activities was $630.2 million against $479.0 million a year ago.

MillerCoors LLC Releases Mexican-Inspired Beverage, Zumbida

MillerCoors LLC announced that it is releasing a new alcoholic beverage called Zumbida that is inspired by Mexican drink aguas frescas. The first flavor released is Zumbida Mango, which "pairs a subtle sweetness and fruit flavor with a hint of carbonation and a touch of alcohol. The 4.2% alcohol by volume beverage is available in six-pack 12-ounce bottles in California and Texas, as well as Las Vegas, Albuquerque, N.M., and Denver.

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