Molson Coors beats quarterly estimates on pricing strength, reaffirms outlook

Aug. 6 (Reuters) - Molson Coors TAP.N beat Wall Street estimates for second-quarter sales and profit on Thursday, as higher pricing and a favorable sales mix helped the brewer offset lower shipment volumes and macroeconomic headwinds.

It also reaffirmed its annual forecasts despite warnings of inflationary commodity costs and geopolitical uncertainty stemming from the conflict in the Middle East.

Shares of the company were up about 1% in premarket trading.

Here are the details:

• The maker of Coors Light and Miller Lite has relied on price increases and premiumization to help offset higher raw material costs and lower shipment volumes.
• The company said higher net pricing in the Americas contributed positively to second-quarter sales.
• "Further progress on our cost savings initiatives partially offset ongoing commodity cost inflation and the impact of lower financial volumes," said CFO Tracey Joubert.
• Molson Coors reported $40 million of additional costs related to Midwest Premium aluminum pricing in the quarter.
• The company expects annual underlying earnings per share to decline 11% to 15% from 2025.
• It also expects annual net sales to be flat, plus or minus 1%, compared to 2025, on a constant currency basis.
• The company reported second-quarter adjusted earnings of $1.58 per share, above analysts' average estimate of $1.51, according to data compiled by LSEG.
• Net sales came in at $3.1 billion, slightly above analysts' estimate of $3.08 billion.
• Financial volumes fell 5.4% in the quarter, while brand volumes declined 4.8%, reflecting lower shipments across both the Americas and EMEA & APAC.