Filing Flows › Molson Coors Beverage (TAP) › Q2 2025
Molson Coors Beverage (TAP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Molson Coors Beverage (TAP) reported revenue of $3.7B for the second quarter 2025 (Q2 2025), -3% from a year earlier and +39% from the quarter before. Operating margin was 15.6%, net earnings $429M (11.5% of revenue).
Molson Coors Beverage, Q2 2025: revenue $3.7B (-3% year over year), operating margin 15.6%, net earnings $429M, operating cash flow $718M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.7B | +39% | -3% |
| Gross profit | $1.3B | +51% | -4% |
| Operating profit | $584M | +213% | -3% |
| Net earnings | $429M | +254% | +0.4% |
| Operating cash flow | $718M | — | -17% |
| Free cash flow | $555M | — | -20% |
What changed
Revenue was $3.7B in Q2 2025, down 3% year over year and up 39% from the previous quarter.
Gross margin was 34.3%, down 0.4 points from a year earlier. Operating profit was $0.58B, a 15.6% margin (unchanged year over year). Operating expenses fell 4% while revenue fell 3%. Net earnings were $0.43B, roughly flat year over year ($0.42B including minority interests, which bore $4.4M of losses). The effective tax rate was 23.5%.
Operating cash flow was $0.72B (down 17% year over year), 169% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.12B. Capital expenditures of $0.16B left free cash flow of $0.56B.
Questions
What was Molson Coors Beverage's revenue in the second quarter 2025?
Molson Coors Beverage (TAP) reported revenue of $3.7B for the second quarter 2025 (Q2 2025), -3% from a year earlier and +39% from the quarter before.
Was Molson Coors Beverage profitable in the second quarter 2025?
Operating profit was $584M (15.6% of revenue) and net earnings $429M.