Filing Flows › Molson Coors Beverage (TAP) › Q2 2026 › vs Q2 2025
Molson Coors Beverage (TAP) Q2 2026 vs Q2 2025 (year over year)
Molson Coors Beverage's revenue fell $136M (-4%) from $3.7B in Q2 2025 to $3.6B in Q2 2026. Gross margin 29.5% against 34.3% (-4.8 pts).
Molson Coors Beverage, Q2 2026: revenue $3.6B (-4% year over year), operating margin 9.2%, net earnings $232M, operating cash flow $818M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 29.5% | 34.3% | -4.8 pts |
| Operating margin | 9.2% | 15.6% | -6.4 pts |
| Net margin | 6.4% | 11.5% | -5.0 pts |
| Free cash flow margin | 19.8% | 14.8% | +5.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $3.6B | $3.7B | −$136M | -4% |
| Gross profit | $1.1B | $1.3B | −$219M | -17% |
| Cost of revenue | $2.5B | $2.5B | $83.0M | +3% |
| Operating profit | $332M | $584M | −$252M | -43% |
| Operating expenses | $731M | $698M | $33.1M | +5% |
| Pre-tax earnings | $283M | $555M | −$272M | -49% |
| Other expense, net | $48.8M | $28.7M | $20.1M | +70% |
| SG&A | $718M | $693M | $25.4M | +4% |
| Other operating costs | $12.9M | $5.2M | $7.7M | +148% |
| Loss borne by minority interests | $10.1M | $4.4M | $5.7M | +130% |
| Net earnings | $232M | $429M | −$197M | -46% |
| Income tax | $61.5M | $131M | −$69.1M | -53% |
| Depreciation & amortization | $192M | $170M | $21.9M | +13% |
| Share-based compensation | $8.8M | $7.0M | $1.8M | +26% |
| Working capital & other | $385M | $112M | $273M | +243% |
| Operating cash flow | $818M | $718M | $99.6M | +14% |
| Free cash flow (OCF − capex) | $714M | $555M | $159M | +29% |
| Capital expenditures | $104M | $163M | −$59.8M | -37% |
Questions
How much did Molson Coors Beverage's revenue grow year over year in Q2 2026?
Molson Coors Beverage's revenue fell $136M (-4%) from $3.7B in Q2 2025 to $3.6B in Q2 2026. Gross margin 29.5% against 34.3% (-4.8 pts).