Molson Coors Beverage Company (TAP) beat Q2 earnings expectations with adjusted EPS of $2.05 vs. analyst estimate of $1.86. Quarterly sales of $3.201 billion exceeded Street view of $3.121 billion. Brand volumes dropped 5.1%, including a 4.0% decrease in the Americas and 7.8% in EMEA & APAC.

Net sales in Americas fell 2.8% to $2.504 billion, while EMEA & APAC rose 3% to $703.9 million. Weak beer market conditions and softer U.S. market share impacted Q2 results. CEO Gavin Hattersley remains optimistic about the company’s long-term growth objectives.

Underlying EBITDA in Q2 rose to $763.9 million from $750.1 million last year. Total debt as of June 30 was $6,319.3 million, with $613.8 million in cash and equivalents. TAP projects fiscal 2025 adjusted EPS of $5.36–$5.54, below consensus.

TAP stock rebounded, up almost 2% following earlier losses due to the company’s forecast of a 3-4% drop in 2025 net sales. Shares are trading higher by 1.73% at $49.45. CEO Hattersley adjusted 2025 guidance due to industry impacts and higher-than-expected tariffs on aluminum pricing.

Read more at Yahoo Finance: Molson Coors Cuts Outlook, CEO Calls Beer Market Slump ‘Cyclical’