Business Wire·Aug 6, 2026, 6:30 AM ET

Molson Coors Beverage Company Reports 2026 Second Quarter Results

TAP TAP.A TSX:TPX.A TSX:TPX.B TSX:TPX

Molson Coors reported 2026 second-quarter net sales of $3,096.5 million, a 3.3% reported decrease & 3.6% decrease in constant currency compared to the prior year.
U.S. GAAP income before income taxes fell 49.0% to $283.1 million, while underlying (Non-GAAP) income before income taxes decreased 27.8% in constant currency to $383.2 million.
U.S. GAAP net income attributable to MCBC was $231.7 million ($1.23 per diluted share), & underlying diluted earnings per share were $1.58, a 22.9% decrease.
Consolidated financial volume decreased 5.4% to 19.734 million hectoliters, driven by lower shipments in the Americas & EMEA&APAC segments.
Americas segment net sales dropped 4.1% to $2,402.4 million, with financial volume down 6.4% due to lower U.S. core & value brand volumes.
EMEA&APAC segment net sales decreased 0.4% to $700.8 million in constant currency, impacted by soft demand & competition in the U.K.
Cost of goods sold increased 6.0% on a reported basis, primarily due to $98.0 million in unfavorable unrealized mark-to-market commodity derivative positions & Midwest Premium pricing impacts.
Marketing, general & administrative expenses rose 3.7% on a reported basis, driven by ERP implementation costs & lower prior-year incentive compensation.
The company reaffirmed its full-year 2026 outlook, projecting flat net sales & an underlying income decline of 15% to 18% in constant currency.
Full-year 2026 underlying free cash flow is expected to be $1.1 billion, with capital expenditures targeted at $650 million.
Subsequent to the quarter, the company repaid $2.0 billion in senior notes using proceeds from new debt issuances & cash on hand.
The board declared a dividend of $0.48 per share on Class A & Class B common stock, payable September 18, 2026.
Net debt as of June 30, 2026, stood at $5,581.5 million, resulting in a net debt to underlying EBITDA ratio of 2.53x.