MC Sees Improved U.S. Trends in Q1; Monaco Deal $275M

Dear Client: Molson Coors is off to “a solid start” in 2026, posting 2% net sales growth and improved profitability globally in Q1, with U.S. results (though still soft) heading in a better direction. U.S. DEPLETIONS DOWN 3.5% IN Q1. U.S. brand volumes (depletions) declined 3.5%, “driven by lower share performance in our core and value segments.” That’s only a modest improvement from Q4 trends (when depletions fell 5.1%), and comes against a relatively easy comp, with MC's U.S. depletions