Molson Coors Q2 2026 results: Peroni and Coors Banquet grew, mainstream lager declined, and Monaco Cocktails made its debut

Molson Coors Beverage Company reported second quarter 2026 results on 6 August 2026. Net sales were $3,096.5 million, down 3.3% reported and 3.6% in constant currency versus Q2 2025. Brand volume declined 4.8% to 19.628 million hectolitres. Underlying income before income taxes – the company’s primary non-GAAP profitability measure – fell 27.8% in constant currency to $383.2 million. Full-year 2026 guidance was reaffirmed. CEO Rahul Goyal described progress on key aspects of the Horizon 2030 strategy while acknowledging heightened global macroeconomic headwinds affecting both consumer behaviour and key input costs.

The volume and revenue decline is consistent with the broader US beer market context. The Beer Institute confirmed June 2026 taxable removals declined approximately 1.5% year on year, and WSWA SipSource data shows US core spirits contracting at –4.19% rolling twelve months through Q1 2026. Commodity cost inflation – particularly aluminium – added pressure from the cost side simultaneously with the volume softness. Cost savings initiatives from the Horizon 2030 cost savings plan partially offset both headwinds, though not sufficiently to prevent the underlying profitability decline.

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