Molson Coors Beverage Company (TAP) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

includes forward-looking statements. Actual results or trends could differ materially from our forecast. For more information, please refer to our risk factors discussed in our most recent filings with the SEC. We assume no obligation to update forward-looking statements except as required by applicable law. The definitions of or reconciliations for any non-U.S. GAAP measures are included in our earnings relief. Unless otherwise indicated, all financial results we discuss are versus the comparable prior year period and are in U.S. dollars. With the exception of earnings per share, all financial metrics are in constant currency when referencing percentage changes from the prior year period. Also, share data references are sourced from Circana in the U.S. and from Beer Canada in Canada, unless otherwise indicated. Further in our remarks today, we will reference underlying pre-tax income, which equates to underlying income before income taxes, and underlying earnings per share, which equates to underlying diluted earnings per share as defined in our earnings release. Now with that, over to you, Gavin. Thank you, Tracy. Hello, everybody, and thank you for joining the call. Like for so many of our peers in Staples, it certainly was a challenging first quarter. The global macroeconomic environment is volatile, due to 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. These shifts have pressured consumption trends as the consumer faces a high level of uncertainty. And the beer industry has not been immune to these macro changes. Fortunately, while we are a global business, our beers and beverages are generally made in the markets in wh...