Molson Coors Beverage Company (NYSE:TAP) Q2 2024 Earnings Conference Call August 6, 2024 8:30 AM ET

Company Participants

Traci Mangini - Vice President, Investor Relations
Gavin Hattersley - President and CEO
Tracey Joubert - CFO

Conference Call Participants

Bonnie Herzog - Goldman Sachs
Drew Levine - JPMorgan
Bill Kirk - ROTH Capital Partners
Rob Ottenstein - Evercore
Chris Carey - Wells Fargo
Victor Ma - TD Cowen
Bryan Spillane - Bank of America
Michael Lavery - Piper Sandler
Lauren Lieberman - Barclays
Eric Serotta - Morgan Stanley

Operator

Good day, and welcome to the Molson Coors Beverage Company Second Quarter Earnings Conference Call.

With that, I'll hand over to Traci Mangini, Vice President, Investor Relations.

Traci Mangini

Thank you, operator, and hello, everyone. Following prepared remarks today, we look forward to taking your questions. In an effort to address as many questions as possible, we ask that you limit yourself to one question. If you have technical questions on the quarter, please pick reach out to our IR team. Also I encourage you to review our earnings release, the earning slides which are posted to IR section of our website and provide detail financial and operational metric.

Today's discussion includes forward-looking statements. Actual results or trends could differ materially from our forecast. For more information, please refer to the 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.

Reconciliations for any non-US GAAP measures are included in our earnings release. 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 pretax 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.

With that, over to you Gavin.

Gavin Hattersley

Thank you, Traci. Good morning everybody and thank you for joining the call. We are pleased with our results this quarter, which played out largely as we had expected. We acknowledge that there are a few near term timing dynamics impacting our quarter-to-quarter performance this year. In today's call, we will unpack these as well as the drivers of the second half of the year to demonstrate why we are maintaining our guidance for the full year 2024.