Filing Flows › Molson Coors Beverage (TAP) › Q2 2026
Molson Coors Beverage (TAP) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Molson Coors Beverage (TAP) reported revenue of $3.6B for the second quarter 2026 (Q2 2026), -4% from a year earlier. Operating margin was 9.2%, net earnings $232M (6.4% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.6B | — | -4% |
| Gross profit | $1.1B | — | -17% |
| Operating profit | $332M | — | -43% |
| Net earnings | $232M | — | -46% |
| Operating cash flow | $818M | — | +14% |
| Free cash flow | $714M | — | +29% |
What changed
Revenue was $3.6B in Q2 2026, down 4% year over year.
Gross margin was 29.5%, down 4.8 points from Q2 2025. Operating profit was $0.33B, a 9.2% margin (down 6.4 points year over year). Operating expenses grew 5% against a revenue fall of 4%. The fastest-growing cost line was Other operating costs (+148%). Net earnings were $0.23B, down 46% year over year ($0.22B including minority interests, which bore $0.01B of losses). The effective tax rate was 21.7%.
Operating cash flow was $0.82B (up 14% year over year), 369% of net income including minority interests. Non-cash charges added back $0.19B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.40B. Capital expenditures of $0.10B left free cash flow of $0.71B.
Questions
What was Molson Coors Beverage's revenue in the second quarter 2026?
Molson Coors Beverage (TAP) reported revenue of $3.6B for the second quarter 2026 (Q2 2026), -4% from a year earlier.
Was Molson Coors Beverage profitable in the second quarter 2026?
Operating profit was $332M (9.2% of revenue) and net earnings $232M.