Molson Coors Q3 net sales up 2.5%; GAAP EPS $2.08; reaffirms 2021 guidance

MOLSON COORS BEVERAGE CO

Net sales $2.82B, up 2.5%; Underlying EBITDA $642.6M down 10.9% constant currency on higher COGS and marketing spend.
GAAP net income $453M ($2.08 diluted EPS) up 32.1%; Non-GAAP diluted EPS $1.75 up 8.0%.
Coors Light grew total US beer share; Above Premium portfolio net sales revenue exceeded 25% of brand volume net sales revenue TTM.
Reaffirmed full-year 2021 key financial guidance; reinstated dividend and continued deleveraging.
Nearly 2 million cases of non-alcohol products sold year-to-date, a company first.

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