Molson Coors has recorded impairment charges totalling almost $4bn alongside a fifth consecutive quarter of sliding sales.
The Coors and brand owner said sales in its financial third quarter fell by 3.3% to $2.97bn on a constant currency basis.
Molson Coors’ CFO Tracey Joubert attributed the showing to “lower financial volumes driven by a challenging industry and increased competition”.
A sizeable impairment on the brewer’s Americas unit, meanwhile, contributed to a third-quarter operating loss of $3.43bn.
“During the third quarter of 2025, we identified a triggering event that indicated it was more likely than not that the carrying value of the Americas reporting unit exceeded its fair value,” Molson Coors said in a statement alongside its results.
The event had resulted in a £3.6bn “partial goodwill impairment charge” recorded in the quarter, the Madri brewer revealed.
Meanwhile, there were also “intangible impairment losses” of $273.9m attributed to its Blue Run Spirits division and Staropramen brands.
In response to sliding beer sales, Molson Coors has announced plans to cut around 400 jobs in its Americas unit.
“We recognise the challenges and opportunities ahead of us and we are moving with a sense of urgency and a clear purpose to address them,” said Molson Coors CEO Rahul Goyal. “We have announced decisive moves to the leadership team and our Americas organisational structure that are designed to create a leaner, more agile organisation while advancing our ability to reinvest in the business and return cash to shareholders.”
Molson Coors reaffirmed its expectation that full year sales would fall by 3-4% organically in 2025. Underlying incomes before taxes, meanwhile, are expected to fall by 12-15% on a constant currency basis.
“We continue to believe that the incremental softness in the industry this year is cyclical,” said Goyal. “We believe we are well positioned with a healthy balance sheet, strong free cash flow, and great brands that serve a wide range of consumer occasions and preferences to help us navigate these near-term macroeconomic headwinds while investing in our business to support long-term growth.”
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