Filing Flows › Molson Coors Beverage (TAP) › Q3 2025
Molson Coors Beverage (TAP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Molson Coors Beverage (TAP) reported revenue of $3.5B for the third quarter 2025 (Q3 2025), -3% from a year earlier and -7% from the quarter before. Operating margin was -98.5%, net loss $2.9B (84.3% of revenue).
Molson Coors Beverage, Q3 2025: revenue $3.5B (-3% year over year), operating margin -98.5%, net loss $2.9B, operating cash flow $616M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.5B | -7% | -3% |
| Operating profit | −$3.4B | -688% | — |
| Net earnings | −$2.9B | -785% | — |
| Operating cash flow | $616M | -14% | +18% |
| Free cash flow | $483M | -13% | +38% |
What changed
Revenue was $3.5B in Q3 2025, down 3% year over year and down 7% from the previous quarter.
Gross margin was 33.7%, up 0.3 points from a year earlier. Operating costs exceeded revenue by $3.4B, an operating margin of -98.5%. Operating expenses grew 513% against a revenue fall of 3%. The fastest-growing cost line was Other operating costs (+5783%). The quarter ended with a net loss of $2.9B, after a profit of $0.42B the previous quarter. Minority interests bore $0.01B of it: to shareholders the quarter was a loss of $2.9B.
Operating cash flow was $0.62B (up 18% year over year). Non-cash charges added back $0.18B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $3.4B. Capital expenditures of $0.13B left free cash flow of $0.48B.
Questions
What was Molson Coors Beverage's revenue in the third quarter 2025?
Molson Coors Beverage (TAP) reported revenue of $3.5B for the third quarter 2025 (Q3 2025), -3% from a year earlier and -7% from the quarter before.
Was Molson Coors Beverage profitable in the third quarter 2025?
Operating loss was $3.4B (-98.5% of revenue) and net loss $2.9B.