Molson Coors U.S. Depletions Down Nearly 6% for ’25, But Eyes Cost Savings, M&A and More

Dear Client:  Molson Coors just reported Q4 and full year results for 2025, and the best way to describe it is as a somewhat expected finish to a volatile year. But some of their '26 outlook is a bit rosier -- they plan to improve their U.S. share -- and the company is deploying a hefty cost savings program. (They'll need it; the Midwest Premium will be costly.) Read on.  For Q4, U.S. brand volumes (depletions) were down 5.1%, “driven