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Molson Coors Beverage (TAP) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Molson Coors Beverage (TAP) Q3 2026 earnings results →
Q3 2026 Revenue down 2% year over year to $3.4B · 8¢ of every $1 of revenue kept as net profit · operating margin 11.5%
Molson Coors Beverage made $3.4B in Q3 2026 (-2% Y/Y). Operating margin 11.5%, net earnings $272M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $3.4B in Q3 2026, down 2% year over year and down 6% from the previous quarter.
Gross margin was 30.3%, down 3.4 points from Q3 2025. Operating profit was $0.39B, a 11.5% margin (up 109.9 points year over year). Operating expenses fell 86% while revenue fell 2%. Net earnings were $0.27B ($0.27B including minority interests, which bore $0.01B of losses). The effective tax rate was 22.5%.
Operating cash flow was $0.46B (down 25% year over year), 173% of net income including minority interests. Non-cash charges added back $0.18B of depreciation and amortization and $0.01B of share-based compensation. Capital expenditures of $0.13B left free cash flow of $0.33B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $3.4B | -2% | 11.5% | $272M | $460M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $3.6B | -4% | 9.2% | $232M | $818M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $2.7B | +1% | 9.5% | $151M | $2.5M |
| Q4 2025 | 10-K | Feb 18, 2026 | $3.1B | -4% | 10.4% | $238M | $541M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $3.5B | -3% | -98.5% | −$2.9B | $616M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $3.7B | -3% | 15.6% | $429M | $718M |
| Q1 2025 | 10-Q | May 8, 2025 | $2.7B | -12% | 6.9% | $121M | −$90.7M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Molson Coors Beverage
Unless otherwise noted in this report, any description of "we," "us" or "our" includes Molson Coors Beverage Company ("MCBC" or the "Company"), principally a holding company, and its operating and non-operating subsidiaries included within its reporting segments. Our reporting segments include the Americas and EMEA&APAC. Unless otherwise indicated, information in this report is presented in USD and comparisons are to comparable prior periods. Our primary operating currencies, other than the USD, include the CAD, the GBP and our Central European operating currencies, such as the EUR, CZK, RON and RSD.
In its own words, from its 10-K, filed Feb 18, 2026.
Molson Coors Beverage against its Malt Beverages peers
The largest companies of the same SEC industry, each at its latest quarter.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TAP Molson Coors Beverage | Q3 2026 | $3.4B | -2% | 11.5% |
| SAM Boston Beer | Q3 2026 | $520M | -3% | 10.8% |
Source: Molson Coors Beverage 10-Q on SEC EDGAR · CIK 24545 · Malt Beverages
Guidance and outlook
13F: who owns TAP and who is buying
More on TAP
- How Molson Coors Beverage makes money: revenue by segment
- Molson Coors Beverage next earnings date and what analysts expect
- Molson Coors Beverage stock forecast, price target and fair value
- Who owns Molson Coors Beverage stock: holders, funds and Congress trades
- Molson Coors Beverage guidance and outlook
- Is Molson Coors Beverage a takeover target? LBO and rumors
- Molson Coors Beverage recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results