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Molson Coors Reports 2021 First Quarter Results Company Reports Meaningful Progress on Revitalization Plan Despite First Quarter Headwinds Reaffirms 2021 Guidance as Company Reinvests in the Business to Drive Long - term Revenue and Underlying EBITDA Growth GOLDEN , Colo . & MONTREAL -- ( BUSINESS WIRE ) -- April 29 , 2021 -- Molson Coors Beverage Company ( NYSE : TAP , TAP.A ; TSX : TPX.A , TPX.B ) today reported results for the 2021 first quarter . 2021 First Quarter Financial Highlights • • • Net Sales Revenue decreased 9.7 % reported and 11.1 % in constant currency , primarily driven by lower financial volumes [ in North America decreased 9.4 % and Europe decreased 22.0 % ] partially offset by net pricing growth . Net Sales Revenue per hectoliter increased 1.8 % , on a brand volume basis , reflecting the continued premiumization of the portfolio as well as higher net pricing . U.S. GAAP Net Income of $ 84.1 million , $ 0.39 per share . Non - GAAP EPS of $ 0.01 decreased $ 0.34 per share . Underlying ( Non - GAAP ) EBITDA of $ 280 million decreased 20.2 % in constant currency . CEO and CFO Perspectives Highlights and Statement from Gavin Hattersley , President and Chief Executive Officer : Molson Coors achieved tangible progress in the first quarter against its revitalization plan , which is designed to : build on the strength of the Company's iconic core brands ; aggressively grow its above premium portfolio ; expand beyond the beer aisle ; invest in its capabilities and support its people and communities . This progress serves to advance the Company's goal of achieving long - term sustainable top - line and underlying EBITDA growth . However , in the first quarter of 2021 , the Company faced three major events that had material near - term impacts on the business : a system outage caused by a cybersecurity incident , an abnormal winter storm in Texas that forced utility companies to shut off power to the Fort Worth brewery for eleven days , and government restrictions that shut down the entire on - trade channel in the U.K. “ Despite these three unprecedented and disruptive events that took place in the quarter , we continued to make progress against our revitalization plan focused on driving long - term top - line growth .