Molson Coors Brewing (NYSE: TAP) reported Q1 EPS of $0.50, $0.33 worse than the analyst estimate of $0.83. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.42 billion.

2025 OUTLOOK

We have adjusted our 2025 guidance for certain key financial metrics due to the impacts of the global macroeconomic environment on the beer industry and consumer trends. While we have included in our guidance our best estimate of some of these factors, including the direct cost impacts from announced tariffs, the indirect effects of these trends are multi-faceted and include inherent uncertainties that could impact our financial performance beyond what is contemplated in our guidance.

Net sales: low single-digit decrease versus 2024 on a constant currency basis compared to low single-digit increase versus 2024 on a constant currency basis, previously

Underlying (Non-GAAP) income (loss) before income taxes: low single-digit decrease versus 2024 on a constant currency basis compared to mid single-digit increase versus 2024 on a constant currency basis, previously

Underlying (Non-GAAP) diluted earnings per share: low single-digit increase versus 2024 compared to high single-digit increase versus 2024, previously

Capital expenditures: $650 million incurred, plus or minus 5% compared to $750 million incurred, plus or minus 5%, previously

Underlying (Non-GAAP) free cash flow: $1.3 billion, plus or minus 10%

Underlying (Non-GAAP) depreciation and amortization: $675 million, plus or minus 5%

Underlying (Non-GAAP) net interest expense: $215 million, plus or minus 5%

Underlying (Non-GAAP) effective tax rate: in the range of 22% to 24%

For earnings history and earnings-related data on Molson Coors Brewing (TAP) click here.