Aluminum costs | Customs duties hurt Molson Coors

(Montreal) Aluminum of Molson Coors cans costs more. Similarly, due to customs duties at a time when economic uncertainty pushes consumers to spend in moderation.

The North American aluminum price has jumped 180 % since January to take into account the world’s American customs duties of 50 % on aluminum. Meanwhile. underlined the president and chief executive officer, Gavin Hattersley, at a conference call on aluminum aluminum costs | customs duties new costs | customs duties Tuesday to discuss the results of the second quarter.

The brewer. Nevertheless. who has roots in Montreal, warned investors that this increase would result in additional costs estimated between US 40 million and 55 million US. Furthermore, “It played an important role in our forecasts for the rest of the year,” said Mr. For example, Hattersley.

The United States imposed customs duties of 25 % on aluminum imports in March. They subsequently increased 50 % at the beginning of June.

American beer lovers have opted for moderation while household finances are under pressure. “Consumer confidence is a historic hollow,” said the CEO.

Hattersley said that economic uncertainty had “disproportionately” touched consumers with low-income Latin American origin.

The morale of Canadians is also low. even if aluminum aluminum costs | customs duties new costs | customs duties the economic environment is “slightly better,” added the manager.

“Inflation has diminished over time. but consumers remain cautious about their expenses because of the concerns about the cost of housing and food,” he said.

Mr. Hattersley said he believed that these opposite winds were temporary. “Consumer confidence will improve. I don’t know when, but it will happen. The Midwest premium will return to the average after these extreme movements. »»

Impact on profitability – Aluminum costs | customs duties – Aluminum costs | customs duties new

The company behind the Molson brands. Coors Light. the Devil’s hole warned investors that the unfavorable economic context will have a greater impact than expected on its sales and profitability.

It anticipates that its sales will decline from 3 % to 4 % rather than less than 3 %. aluminum costs | customs duties new It provides for aluminum costs | customs duties a reduction in profit from 7 % to 10 % rather than a low increase in profits.

In the second quarter, Molson sales decreased by 1.6 % to 3.2 billion US. Net profit remained almost unchanged at US 428.7 million, compared to US 427 million during the same period last year.

The profit adjusted per share is US $ 2.05, compared to US $ 1.92 at the same period last year.

Before the publication of the results, analysts anticipated a profit of US $ 1.83 per share and income of 3.1 billion US, according to the financial data firm Refinitiv.

The action of Molson Coors earned US $ 0.84, or 1.73 %, at US $ 49.48 on the New York Stock Exchange in the afternoon. while aluminum costs | customs duties new the Molson Coors Canada aluminum costs | customs duties subsidiary fell from $ 0.61, or 0.90 %, to $ 67.00 on the Toronto Stock Exchange.