Molson Coors Beverage Co-B

Q2 FY2026 EarningsQ2 FY26 results slightly missed consensus on the top line and normalized EPS, despite meeting revenue expectations at the aggregate level. Revenue was $3.097B vs. $3.090B expected, but underlying EPS of $1.58 missed the $1.51 mean estimate primarily due to a 5.4% decline in financial volumes and significant commodity headwinds. The U.S. segment faced a $40M headwind from Midwest Premium pricing, while EMEA&APAC struggled with soft demand in the U.K. Management reaffirmed FY26 guidance, expecting constant currency net sales to be flat (±1%) and underlying EPS to decline 11-15%.