Nov 7 (Reuters) - Molson Coors ( TAP/A ) on Thursday

forecast lower full-year sales and missed Wall Street estimates

for quarterly revenue as the Coors Light beer maker grapples

with a hit to volumes in the United States amid higher prices.

The company, like its peer Constellation Brands ( STZ ), has

had to rely on higher pricing to offset an increase in costs

faced by the industry against the backdrop of sticky inflation.

"The U.S. was challenged with the macroeconomic environment

along with anticipated unfavorable shipment timing and the wind

down of a contract brewing agreement," Molson Coors ( TAP/A ) said.

The company now expects 2024 net sales to be down about 1%,

compared with its prior forecast of a low single-digit

percentage increase.

While customers stretched their budgets to purchase the

company's products up until recently, the downbeat sales

forecast indicates inflation is still weighing on consumers.

Molson Coors ( TAP/A ) posted a 5.4% fall in Americas brand volumes

during the third quarter, primarily driven by a drop in volumes

of its higher-priced brands.

The company's quarterly net sales fell 7.8% to $3.04

billion, compared with the average analyst estimate of $3.13

billion, according to data compiled by LSEG.

On an adjusted basis, Molson Coors ( TAP/A ) earned $1.80 per share,

beating estimates of $1.67 per share. The company's shares were

up 1%.

Separately, the company also said it was buying a majority

stake in ZOA Energy - a drinks company co-founded by Hollywood

actor Dwayne "The Rock" Johnson - as Molson Coors ( TAP/A ) looks to

expand its drinks portfolio beyond alcoholic beverages.