Molson Coors Beverage Co (NYSE:TAP) lowered its full-year sales and profit outlook on Thursday after disappointing first-quarter results, citing weaker consumer demand, inflation, and trade concerns.
Shares of the Coors Light and Miller Lite maker fell more than 8% on Thursday morning after the company said it now expects 2025 underlying diluted earnings per share to grow in the low single digits, down from its earlier forecast of high single-digit growth.
The beverage company also projected a low single-digit decline in net sales, reversing a previous estimate for a modest increase.
“The global macroeconomic environment is volatile,” CEO Gavin Hattersley said in a statement. “Uncertainty around the effects of geopolitical events and global trade policy ... has pressured the beer industry and consumption trends.”
Molson Coors reported quarterly adjusted earnings of $0.50 per share, missing analysts’ average estimate of $0.83, according to LSEG data. Revenue fell 11.3% to $2.3 billion, also below the expected $2.42 billion.
The company cited a broad-based decline in beer demand, noting global volumes dropped 8%, including a nearly 9% decline in the US. It attributed the slump to macroeconomic pressures, including consumer concerns about tariffs and inflation, as well as the loss of its contract brewing agreement with Pabst.
Despite the pullback in guidance, Hattersley said the company continues to invest in its business while navigating economic headwinds.