Molson Coors Brewing (NYSE: TAP) reported Q1 EPS of $0.62, $0.24 better than the analyst estimate of $0.38. Revenue for the quarter came in at $2.35 billion versus the consensus estimate of $2.34 billion.

2026 OUTLOOK

We continue to expect to achieve the following targets for full year 2026 despite the inherent uncertainties that exist with inflationary commodity cost pressures and uncertainty in the global macroeconomic environment.

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.

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