TAP - Should Molson and Anheuser-Busch Investors Brace for More Bad News on Hard Seltzer?
Hang on, it's about to get ugly. After Boston Beer (NYSE: SAM) reported earnings last week that were decimated by a dramatic slowdown in the hard seltzer market, investors might want to brace for impact as both Anheuser-Busch InBev (NYSE: BUD) and Molson Coors (NYSE: TAP) are prepared to report their own financial results this week.
Since both brewers have invested heavily in hard seltzer because beer demand is dwindling, their own earnings could similarly reflect the downdraft the seltzer market is experiencing.
Investors likely have a hint for what to expect when Molson Coors reports earnings on Thursday because the brewer has already announced it was ending production of its Coors Hard Seltzer brand a little over a year after its launch .
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Should Molson and Anheuser-Busch Investors Brace for More Bad News on Hard Seltzer?