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Molson Coors Beverage Company Reports 2026 First Quarter Results

TAPTSX:TPXTSX:TPX.ATSX:TPX.B
  • Molson Coors Beverage Company reported first quarter 2026 net sales of $2,351.1 million, a 2.0% increase from the prior year.
  • U.S. GAAP income before income taxes rose 24.6% to $194.7 million, driven by favorable commodity derivative positions and lower expenses.
  • Underlying (Non-GAAP) income before income taxes increased 16.2% in constant currency to $147.9 million.
  • U.S. GAAP net income attributable to MCBC was $151.3 million, or $0.80 per diluted share.
  • Underlying diluted earnings per share were $0.62, representing a 24.0% increase year-over-year.
  • Financial volume decreased 2.9% to 14.964 million hectoliters due to lower shipments in the Americas and EMEA&APAC segments.
  • Brand volume declined 3.1% to 15.068 million hectoliters, with decreases of 3.0% in the Americas and 3.4% in EMEA&APAC.
  • Price and sales mix contributed positively to net sales growth by 3.0% globally, primarily due to premiumization and increased net pricing in the Americas.
  • Cost of goods sold per hectoliter increased 3.0% on a reported basis, impacted by $30 million in Midwest Premium pricing surcharges and cost inflation.
  • Marketing, general & administrative expenses decreased 6.6% on a reported basis, largely due to the prior year's Fevertree integration fees and restructuring savings.
  • The Americas segment reported net sales of $1,900.5 million with underlying income before taxes up 14.5% in constant currency.
  • The EMEA&APAC segment reported net sales of $456.1 million, though underlying losses before taxes widened 47.4% in constant currency due to volume declines and cost inflation.
  • Net cash provided by operating activities was $2.5 million, a significant improvement from the $90.7 million used in the prior year.
  • Underlying free cash flow for the quarter was a use of $212.9 million, improving by $51.7 million compared to the prior year.
  • Total debt stood at $6,271.9 million with cash and cash equivalents of $382.6 million, resulting in a net debt to underlying EBITDA ratio of 2.51x.
  • The Company paid $93.6 million in dividends and $168.5 million for share repurchases during the quarter.
  • Full year 2026 outlook includes flat net sales plus or minus 1% in constant currency and an underlying income decline of 15% to 18%.
  • On April 1, 2026, the Company acquired Atomic Brands, Inc., the maker of Monaco Cocktails, for $275 million to expand its ready-to-drink portfolio.