Beam Inc is set to release its Q4 and full-year results on Friday (3 February). Below, we take a look at the highs and lows for the company in the three months to the end of December.
- The quarter started with the birth of Beam Inc, rising from the ashes of parent company Fortune Brands, which ceased to be after it spun off two of its three units. At the time, Beam’s CEO and president, Matt Shattock, said: “Beam begins its future as a pure-play spirits company with strong momentum and compelling growth prospects”. Observers posited, however, that the company may become a takeover target in the future.
- Then, towards the end of October, Beam shook up its Europe/Middle East/Africa (EMEA) region. In realigning the region, and sorting markets into three clusters, the company rearranged its executive team, announcing a raft of appointments.
- In a conference call after the release of the Q3 results in November, CEO Shattock boasted of spirits sales in the US that outpaced the industry despite subdued pricing ahead of the holiday season. At the time, the company forecast a lift in full-year diluted earnings per share, excluding one-time items, of between 8% and 9%, at the top end of Beam’s guidance range.
- The biggest event in the last quarter for Beam came in December, when it acquired Irish whiskey producer Cooley Distillery for US$95m.
- The move for Cooley, one of only three Irish whiskey distillers, marked Beam’s first foray into the category and, according to editor Olly Wehring, will calm the takeover talk. As owners of the other two Irish players, Diageo and Pernod Ricard will find Beam a little harder swallow, he argued.
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