Molson Coors Beverage Co lowers FY guidance after Q2 sales dip

Sales for three months to end of June fall 2.6% to US$3.2bn
Improvement on Q1, but overall H1 revenues down 6.1% to US$5.5bn
‘Americas’ Q2 sales down 2.6%; ‘EMEA & APAC’ declines 2.3%
Company lowers full-year guidance for second consecutive quarter

Molson Coors Beverage Co has lowered its full-year guidance for the second quarter running after sales for the three-month period ending 30 June dipped by 2.6%.

The quarter constituted an improved performance on the first three months of 2025 – when sales slumped by 10.4% – but first-half revenues were still down by 6.1%. Brand volumes declined by 5.1% in the second quarter, including a 4% decrease in the ‘Americas’ reporting region, as well as a 7.8% decline in ‘EMEA & APAC’.

Molson Coors blamed “the macroeconomic environment resulting in industry softness, as well as lower share performance” for the 2.6% second-quarter revenue decline in the ‘Americas’, with brand volumes in the US down 5.3%.

The company fared a little better in ‘EMEA and APAC’, where revenues for the three months to the end of June fell 2.3%, thanks to lower volumes across all regions, in turn driven by “soft market demand and a heightened competitive landscape”.

As a result of the declines, Molson Coors lowered its full-year revenue guidance to a 3-4% decline. When announcing its first-quarter results, it had predicted a “low single-digit” decline – but had originally forecast low single-digit revenue growth for the fiscal year.

“Our second quarter financial results were impacted by the macroeconomic environment and its broad effects on the beer industry and consumer, our softer US share performance, as well as the resulting impact of volume deleverage,” said Molson Coors president and CEO Gavin Hattersley, who is due to retire in December.

“Additionally, in the quarter we experienced expected headwinds primarily from the discontinuation of our contract brewing arrangements in the ‘Americas’ at the end of 2024.”

However, Hattersley pointed out that the company had held most of its share gains over the last three years for US core brands Coors Light, Miller Lite and Coors Banquet, adding: “We remain committed to our premiumisation plans: in EMEA & APAC behind the strength of Madri, in Canada with continued growth in Miller Lite and our flavour portfolio, and in the US with Peroni and our partnership with Fever-Tree, as well as continued focus against Blue Moon.”