Molson Coors beats quarterly estimates on price hikes, premium beer demand

Cans of Molson Canadian Beers are shown during a plant tour at the Molson Coors Toronto Brewery in Toronto. THE CANADIAN PRESS/Nathan Denette

Molson Coors on Thursday beat analysts’ estimates for first-quarter sales and profit, helped by price increases and demand for premium beer, especially in its Americas business.

Shares of the brewer rose two per cent before the bell as it reaffirmed its annual forecasts despite flagging inflationary commodity costs and an uncertain global macroeconomic environment.

The maker of beers such as Coors Light and Miller Lite has raised prices to mitigate the impact of rising raw material costs, including aluminum, and to cushion against softer demand.

The brewer has been pushing premium offerings such as Blue Moon Belgian White and Peroni Nastro Azzurro, while also expanding into faster-growing categories including ready-to-drink flavored cocktails.

Its net sales rose two per cent to US$2.35 billion for the quarter ended March 31, above analysts’ expectations of $2.33 billion.

Underlying earnings per share rose 24 per cent to 62 cents, driven by cost controls, handily beating estimates of 37 cents, according to data compiled by LSEG.

Total volumes fell nearly three per cent as weaker demand and stiff competition weighed on the U.S. and European markets, where consumers remain cautious amid persistent inflation.

Executives struck a cautious tone on demand and costs.

Chief Executive Rahul Goyal said the company was operating in a “dynamic external environment with limited near‑term visibility.”

Molson Coors is also contending with higher input prices, particularly aluminum surcharge, which added roughly $30 million in additional costs in the quarter, the company said.

For the full year 2026, it expects net sales in the range of a fall of one per cent to growth of one per cent from last year and adjusted earnings per share to fall between 11 per cent and 15 per cent.

It also warned that U.S. volumes in the second quarter are likely to drop six per cent to nine per cent year‑on‑year, with cost pressures peaking mid‑year before easing in the second half.

(Reporting by Savyata Mishra in Bengaluru; Editing by Maju Samuel)