Molson Coors lifts annual core profit forecast on price hikes, steady demand

Molson Coors raised its annual core profit forecast after beating third-quarter estimates on Thursday, helped by price hikes as well as steady demand for its core beer brands like Miller Lite and Coors Light. Like other alcohol makers, Molson Coors has also been lifting prices of its products over the past year to offset higher raw materials and labor costs, even as some of those expenses have now come down from their peaks. Net sales in the Americas segment rose 10.8% in the quarter, as it saw an increase in U.S. domestic shipments for its core brands.