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Molson Coors Beverage Company Reports 2025 Third Quarter Results

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  • Molson Coors Beverage Company reported 2025 third-quarter results with net sales of $2,973.5 million, a 2.3% reported decrease & 3.3% decrease in constant currency.
  • U.S. GAAP loss before income taxes was $3,495.5 million, primarily driven by a $3,645.7 million non-cash partial goodwill impairment charge & a $273.9 million intangible asset impairment charge.
  • Underlying (Non-GAAP) income before income taxes was $426.0 million, an 11.9% decrease in constant currency compared to the prior year.
  • U.S. GAAP net loss attributable to MCBC was $2,927.6 million, or $14.79 per diluted share, while underlying diluted EPS was $1.67, a 7.2% decrease.
  • Consolidated financial volume decreased 6.0% to 19.385 million hectoliters, with brand volume down 4.5% to 20.366 million hectoliters.
  • Americas segment net sales declined 3.6% to $2,260.0 million, reporting a U.S. GAAP loss before taxes of $3,345.4 million due to goodwill & intangible impairments.
  • EMEA&APAC segment net sales increased 2.4% to $721.0 million on a reported basis, though constant currency sales decreased 2.4% due to lower volumes.
  • CEO Rahul Goyal stated the company is positioned with a healthy balance sheet to navigate macroeconomic headwinds while restructuring the Americas organization for agility.
  • CFO Tracey Joubert reaffirmed full-year guidance but expects results to land at the low end of the range due to challenging industry dynamics & commodity pricing.
  • Cash from operations for the nine months ended September 30, 2025, was $1,243.7 million, down $172.1 million year-over-year, impacted by a $60.6 million Keystone litigation payment.
  • Total debt as of September 30, 2025, stood at $6,292.0 million, resulting in a net debt to underlying EBITDA ratio of 2.28x.
  • The company paid $285.7 million in dividends & $332.8 million for share repurchases during the nine-month period.
  • Full-year 2025 outlook anticipates net sales decline of 3% to 4% in constant currency & underlying diluted EPS decline of 7% to 10%.
  • On October 20, 2025, the company announced an Americas restructuring plan involving the elimination of approximately 400 salaried positions by December 2025.
  • Restructuring charges related to the plan are expected to range from $35 million to $50 million, with substantially all costs incurred in the fourth quarter of 2025.