How Molson Coors Will Respond After a “Challenging” 2019

Dear Client: Molson Coors chief Gavin Hattersley didn’t beat around the bush in yesterday’s earnings call. The first line out of his mouth was “Look, 2019 was a challenging year for Molson Coors Beverage Company.” Indeed, there weren’t a whole lot of positive numbers Gavin could point to within the past year for their biggest brands (though Q4 U.S. depletions, at -1.7%, did seem to improve, even adjusting for comp). Still, even with a seemingly slight improvement in Q4, he