MillerCoors LLC, which operates a brewery in Milwaukee, said its second quarter net income increased 9.1 percent from the same quarter a year ago to $436.0 million, driven by positive pricing, favorable brand mix and cost management.
"As our major summer marketing programs kicked off during the second quarter, we saw sequential improvement in retail sales on our premium light brands, highlighted by the strong growth of Coors Light," said MillerCoors chief executive Tom Long. "We also delivered double-digit growth from Tenth and Blake as we scale brands like Blue Moon and Leinenkugel's Summer Shandy to meet changing consumer tastes. Positive brand mix shifts - combined with our continued attention to cost control and sharp revenue management - were key to delivering another profitable quarter. We continue to make progress against our strategy of strengthening our core business, while evolving our portfolio to match consumer demand."
Total sales for the quarter increased 4 percent to $2.2 billion from $2.1 billion, the Chicago-based brewer said.
The Tenth & Blake Beer Co., MillerCoors' craft and import beer division in Milwaukee, continued to show growth led by the Leinenkugel's brands.