Molson Coors Beverage Co. reports for the fourth quarter net sales of $2.27 billion, down 2.7% from the year-earlier sales level. Net profit also fell, dropping 11.7% to $237.2 billion or $1.22 a share.

For the full year, Molson Coors reported sales of $11.14 billion, a4.2% drop. Net income also fell, down 13.4% to $1.08 billion, or $5.42 a share.

In the Americas, sales fell 5% – greater than the world as a whole – to $2.07 billion in the first half, For the full year, Americas produced a 5.7% decline in revenue. Underlying income before income taXes was $1.4 billion, down 12.1% from a year earlier.

The company attributed the quarterly loss to " lower brand volume, an approximate 2% impact from lower contract brewing volume resulting from the exit of contract brewing arrangements in the U.S. and Canada as well as an approximate 2% impact in lower shipments resulting in lower U.S. distributor inventories.

Americas brand volumes decreased 4.3%, including a 5.1% decrease in U.S. brand volumes driven by the macroeconomic environment resulting in industry softness as well as lower share performance, mainly in the above-premium and premium segments."

Also impacting results was a $20 million hit from, primqrily, Midwest Premium pricing for aluminum.

Tcompany said it expects to achieve the following  targets for full year 2026 despite the inherent uncertainties that exist with inflationary commodity cost pressures and a softer beer industry.

• Net sales: flat, plus or minus 1% versus 2025 on a constant currency basis.
• Underlying income (loss) before income taxes: decline in the range of 15% to 18% versus 2025 on a constant currency basis.
• Underlying earnings per share: decline in the range of 11% to 15% versus 2025.
• Capital expenditures: $650 million incurred, plus or minus 5%.
• Underlying free cash flow: $1.1 billion, plus or minus 10%.
• Underlying depreciation and amortization: $720 million, plus or minus 5%.
• Consolidated net interest expense: $260 million, plus or minus 5%.
• Underlying effective tax rate: in the range of 22% to 24% for 2026.

Rahul Goyal, President and Chief Executive Officer said:

“Despite a number of macroeconomic issues impacting our industry and our category, we navigated a tough year to protect and deliver on our revised bottom-line expectations while narrowly missing our top-line guidance. We have a solid platform with our brands, infrastructure and people, and a strong balance sheet to weather this macro volatility. We made the necessary difficult decisions in our business to course correct and set ourselves up for the future. Our iconic brands resonate with consumers, and we are excited about our plans to unite people around our portfolio."

Added Tracey Joubert, Chief Financial Officer Statement:

“We are proud of our resilience and the financial discipline we delivered amidst a tough 2025 macro environment, with challenging industry dynamics and rising commodity input costs pressuring our bottom-line results.

'While we expect our top-line trends to improve in 2026, we expect commodity inflation in particular to be a meaningful headwind in 2026, which we do not believe is reflective of longer-term performance. Our balance sheet remains strong, with our net debt to underlying EBITDA ratio below our target of 2.5 times.

"Our solid cash generation has allowed us to return cash to shareholders via a growing dividend and share repurchase program, while investing in our brands and capabilities to position us well for future growth."