Shares of Molson Coors (TAP) tumbled 10.10% in pre-market trading on Thursday following the release of disappointing first-quarter results and a weak outlook for 2025. The beverage giant's earnings and revenue fell significantly short of analysts' expectations, raising concerns about the company's near-term performance.

Molson Coors reported adjusted earnings per share of $0.50 for Q1, well below the $0.83 estimated by analysts. The company's sales for the quarter came in at $2.30 billion, missing the $2.41 billion forecast. Additionally, adjusted net income stood at $101.7 million, considerably lower than the expected $163.4 million, highlighting the challenges faced by the brewer in the current market environment.

Looking ahead, Molson Coors provided a cautious outlook for 2025, projecting a low single-digit decrease in net sales on a constant currency basis. The company also anticipates a low single-digit increase in adjusted earnings per share for the year. In response to these challenges, Molson Coors announced it is taking actions to mitigate short-term hurdles, including reducing non-business critical discretionary spending and capital projects. Despite these measures, the company maintained its full-year adjusted free cash flow guidance at $1.3 billion, suggesting some resilience in its cash-generating capabilities amidst the headwinds.