TAP · 10-Q · 2026Q2 · Full report

Supply Chain Tariff Impact

MOLSON COORS BEVERAGE CO (TAP, TAP-A) · 2026-08-06 · Importance 56 · Surprise 42 · Matches filing data

The U.S. Midwest Premium surcharge on aluminum remained elevated, producing an unfavorable $40 million impact on cost of goods sold in the second quarter and a $70 million impact for the first six months of 2026. Management expects the unfavorable Midwest Premium impact to continue through the remainder of 2026, with an estimated $130 million adverse effect on full-year 2026 cost of goods sold versus 2025. Materials, logistics and manufacturing inflation also contributed to higher cost of goods sold per hectoliter, alongside unfavorable commodity-derivative mark-to-market changes of $98 million in the quarter and $27.5 million year to date.

Key facts

• The company expects Midwest Premium pricing to have an approximate $130 million unfavorable impact on cost of goods sold for the year ending December 31, 2026 when compared to prior year. source
• Midwest Premium pricing had an approximately $40 million unfavorable impact on cost of goods sold during the three months ended June 30, 2026 and approximately $70 million unfavorable impact for the six months ended June 30, 2026. source

Impact estimates