In its 2026 guidance, Molson Coors projects adjusted earnings per share to decline by 11%–15% due to rising aluminum tariffs imposing a $125 million cost headwind and weaker demand among price-sensitive consumers. Net sales are expected to contract by up to 1% or increase by 1%, compared to flat analyst projections.

In the fourth quarter, net sales reached $2.66 billion, missing expectations of $2.71 billion, while underlying EPS of $1.21 surpassed the $1.16 forecast. A Midwest aluminum premium drove an 8.1% increase in production costs per hectoliter, squeezing margins and prompting a 6% after-hours share drop.

CEO Rahul Goyal highlighted challenging decisions to reset operations following weak volumes and persistent inflation, and CFO Tracey Joubert indicated that commodity cost pressures will remain a significant drag on profitability through 2026. The company plans to evaluate pricing strategies and operational efficiencies to mitigate inflationary impacts.