Molson Coors drops after annual forecast cut on tariff pressure

Shares of beer maker Molson Coors TAP.N down ~5% at $53.75 premarket

Co now sees low single-digit decline in annual net sales, compared with previous expectations of a low single-digit growth

Also sees low single-digit increase in annual adjusted EPS, compared with prior view of high single-digit increase

Uncertainty around the effects of geopolitical events and global trade policy, including the impacts on economic growth, consumer confidence and expectations around inflation, and currencies has pressured the beer industry and consumption trends- CEO Gavin Hattersley

Co also misses Q1 revenue, profit estimates, according to data compiled by LSEG

As of last close, TAP is down ~1% YTD