Overview

• Management lowered full-year EPS guidance to $11.30–$11.60 from $12.60–$12.90 and warned beer sales could decline as much as 4%.
• Shares fell to $146.60 this week, leaving the stock down roughly 33% year to date and about 40% over the past 12 months.
• Q1 fiscal 2026 results showed net sales down 6% to $2.5 billion, comparable operating income down 11%, and net income down 41% to $516 million with comparable EPS of $3.22, down 10%.
• The company has flagged higher U.S. tariffs on imported beer and aluminum cans as a continuing cost headwind.
• Analyst scrutiny intensified, with Bank of America shifting to Sell and Jim Cramer highlighting worsening trends, while balance-sheet metrics show about $12 billion in debt, roughly $74 million in cash, and a four-quarter net loss of $442 million.