Beer sales boost Molson Coors third-quarter earnings

Yahoo Finance Live anchors discuss Q3 earnings for Molson Coors.

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BRIAN SOZZI: And checking in on Molson Coors, beverage company, shares in focus following a beat on Q3 revenue, as net sales grew 4%. The beer maker also reaffirmed its full year outlook as it continues to navigate the higher cost environment and overall global inflation pressures. Decent quarter for Molson Coors. I wouldn't say it was as good as what we heard from AB InBev earlier in the week, and then even what we heard from Constellation Brands a couple of weeks ago.

But I do like the fact that Molson Coors is putting Coors Light, Miller Lite, and Coors Banquet in the premium beer category. To me, I enjoy all those beers, and they taste very premium in my humble view.

BRAD SMITH: I didn't get as deep into this one, but did they say anything about where the consumer tastes might be changing or shifting? Because I mean, liquors, wines-- or wines and spirits, rather, that has been something that I think consumers gravitated towards during the pandemic. And then we saw kind of a little bit of a move away from that and towards some of the new canned cocktails as well here.

BRIAN SOZZI: Yeah, ready to drink, I mean, that's been one of the biggest drivers of the whole industry. We understand that new Jack and Coke in a can comes out from Coca-Cola in the first part of next year, that could be pretty big. That's innovation in its finest form.

BRAD SMITH: It's not already out?

BRIAN SOZZI: Not out. It's launching--

[BUZZER]

--a little bit in Mexico, but soon in the US early next year.

BRAD SMITH: I saw a fake one then, OK.