Molson Coors cuts full-year forecast again amid U.S. market share decline, aluminum tariff costs 

USA – Molson Coors Beverage Company has lowered its full-year financial guidance for the second consecutive quarter, citing persistent macroeconomic pressures, declining U.S. market share, and rising aluminum tariff costs. 

The Madri and Staropramen brewer now anticipates net sales will decline by 3% to 4% on a constant-currency basis in 2025. This marks a sharper outlook compared to its previous forecast in May, which projected only a “low single-digit decline.” 

The company also revised its expectations for underlying income before income taxes and diluted earnings per share (EPS). Molson Coors now predicts a 12% to 15% drop in underlying income before taxes, adjusted for exchange rates.  

Previously, the company had guided a low single-digit decrease. Underlying diluted EPS is projected to fall by 7% to 10%, widening from the earlier expectation of a low single-digit decline. 

President and CEO Gavin Hattersley attributed the downward revision to a combination of unfavorable macroeconomic conditions, underperformance in the U.S. market, and higher-than-anticipated indirect tariff impacts on aluminum, particularly related to the Midwest Premium pricing. 

These updates were released alongside the company’s second-quarter results, which reflected mixed performance. Net sales for the quarter ending June 30 declined 1.6% year-on-year to US$3.2 billion, representing a 2.6% drop on a constant-currency basis. 

Financial volume, which includes Molson Coors’ owned or actively managed brands, declined by 7%, while operating income dropped 2.7% to US$583.6 million.  

Despite the decline in revenue and volume, net income attributable to Molson Coors edged up 0.2% to US$428.7 million. 

In the Americas, volume fell 6.6%, impacted by weaker brand performance in the U.S. and the conclusion of a contract brewing agreement.  

Meanwhile, in the EMEA and APAC regions, volumes declined by 7.8%, with the company citing soft market demand and intensified competition. 

Despite the near-term challenges, Hattersley maintained confidence in the company’s long-term strategy, describing the current softness as cyclical and expressing belief in achieving its growth objectives. 

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