World: Molson Coors misses Wall Street estimates for third-quarter results

Beer maker Molson Coors missed Wall Street estimates for third-quarter results on November 4, owing to softening demand for alcohol across the U.S. and Europe and tariff-driven costs of aluminum cans.

Molson Coors, like rival Constellation Brands has battled tepid demand due to high prices and growing concerns about health effects among consumers.

Rising prices of beer can raw material aluminum due to tariffs have also squeezed margins at these companies.

The maker of beers including Coors Light and Miller Lite also took a hit from the loss of contract brewing volumes, which prompted a $3.65 billion partial goodwill writedown in its Americas unit during the third quarter. It also booked charges tied to underperforming brands and flagged increased competition, particularly in the U.S., where volumes fell.

Brand volume fell 4.5% in the quarter, with declines of 4.4% in the Americas region and 5% in Europe, the Middle East, Africa and Asia-Pacific.

The company now expects its 2025 sales and profit forecast to come in at the lower end of its prior target.

Net sales for the year is forecast to decline 3% to 4% and adjusted earnings per share to fall between 7% and 10%.

The company's net sales dropped 2.3% to $2.97 billion in the quarter ended September 30, missing analysts' average estimate of $3.03 billion, according to data compiled by LSEG.

It posted a 7.2% fall in quarterly underlying profit per share to $1.67, below estimates of $1.70 per share.