Molson Coors U.S. Depletions Down 5.6%; Guidance Cut With One Quarter To Go

Dear Client: Molson Coors reported Q3 earnings today for the three months ended September 30, 2026. And while depletions and shipments were generally in line with what we've been seeing, the company ratched down its full year guidance, with only one quarter left to go.  In the Americas, Molson Coors U.S. depletions were down 5.6%, driven by lower core and value brand shipments and “industry softness.” That was just a hair worse than the overall Americas trend (-5.3%).  Shipments were