Molson Coors Beverage Company reported a third-quarter net loss of $2.93 billion, or $14.79 per diluted share, largely due to significant non-cash impairment charges tied to its Americas business and certain brand assets.

The brewer posted a $3.65 billion partial goodwill impairment and $273.9 million in intangible asset write-downs, leading to a U.S. GAAP loss before income taxes of $3.5 billion, down sharply from a profit a year earlier.

Excluding these charges, underlying income before taxes was $426 million, down 11.9% in constant currency, while underlying diluted EPS fell 7.2% to $1.67.

Net sales slipped 2.3% to reflect lower shipment volumes, offset partly by higher pricing and favourable sales mix. Financial volume declined 6%, with decreases across both the Americas and EMEA & APAC segments.

CEO Rahul Goyal, who took over on October 1, said the results were “largely aligned with expectations” amid ongoing softness in the beer industry. “We are well positioned with a healthy balance sheet and strong brands to navigate near-term headwinds while investing for long-term growth,” Goyal said.

CFO Tracey Joubert added that the company expects to finish the year at the lower end of its guidance ranges but reaffirmed full-year outlook. “We remain committed to improving shareholder returns through disciplined capital deployment and continued share repurchases,” she said.

Despite the losses, Molson Coors emphasised its focus on cost savings, brand investment, and organisational changes aimed at creating a leaner, more agile structure in its Americas operations.