Molson Coors reports Q2 adjusted EPS $2.05, consensus $1.81

Reports Q2 revenue $3.2B, consensus $3.08B. Gavin Hattersley, President and Chief Executive Officer Statement: “We continue to view the incremental softness in the industry performance this year as cyclical, and we continue to believe in Molson Coors (TAP)’ ability to achieve its long-term growth objectives. That said, our second quarter financial results were impacted by the macroeconomic environment and its broad effects on the beer industry and consumer, our softer U.S. share performance, as well as the resulting impact of volume deleverage. 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. This was all partially offset by strong price and mix growth across both business units, favorable timing of U.S. shipments and lower MG&A largely due to reduced incentive compensation and the timing of marketing spend.”