Molson Coors Beverage Company (TAP) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

With that, I'll hand it over to Tracy Mangini, Vice President Investor Relations. Thank you, operator, and hello, everyone. Our discussion today includes forward-looking statements within the meaning of U.S. Federal Security's laws. For more information, please refer to the forward-looking statements disclosure in our earnings relief. In addition, the definitions of a reconciliation for any -U.S. GAAP measures are included in our earnings relief. Given our quarterly performance, including financial and operational metrics and drivers, is detailed in our earnings relief and earnings slides, which were made available earlier today on the IR section of our website, we will focus our prepared remarks on what we believe is top of mind for you, and that is the industry, how we're responding, capital allocation, and our financial outlook. And please note that given the current environment, we are providing a more detailed than typical review of our 2025 guidance drivers. We will then take your questions, and as always, we ask that you limit yourself to one question and then, if needed, return to the queue. With that, I'll pass it over to you, Gavin. Thank you, Tracy. Hello, everybody, and thank you for joining the call. During the second quarter, we continue to execute against our strategic plans to support our long-term growth objectives and to return cash to shareholders while navigating a challenging and volatile macro environment. As a result of the uncertainty around the effects of geopolitical events and global trade and immigration policies, consumer sentiment in the U.S. has remained at relatively low historical levels. This has continued to pressure consumption trends. These macro impacts in the U.S. have had a disproportionate effect on the lower income and Hispan...