MillerCoors Profits Up, Loads Up
MillerCoors profits were up a big 55% in the first quarter. Some of that was due to synergies, some of it due to marketing expenditure timing, some due to lower taxes, but a big part of it was pricing: revenue per barrel was up nearly 6%. This duopoly thing is working out quite well so far. It certainly wasn't due to sales, as volumes were essentially flat. Coors Light is up low single digits (we expect about 3 to 4%), Keystone up double digits, High Life up mid single digits, Blue Moon up high single digits, and MGD family is up for the first time in ten years due to MGD 64.
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