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SAM missed Q2 EPS by 24% with depletions down 6%, while TAP's US shipments fell 7% as the broader beer industry contracted 4% in the quarter.
Molson Coors spent $275M on Monaco Cocktails and partnered with Fever-Tree as new CEO Rahul Goyal bets on beyond-beer to offset a guided 11-15% EPS decline in 2026.
Jim Koch estimates a 1-2% chronic annual decline in per capita alcohol consumption, while Heineken's CEO called GLP-1's impact on drinking habits 'inconclusive.'
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