Molson Coors Beverage Company (TAP) Q3 2022 Earnings Call Transcript

Molson Coors Beverage Company (NYSE:TAP) Q3 2022 Results Conference Call November 1, 2022 11:00 AM ET

Company Participants

Greg Tierney - Head of IR

Gavin Hattersley - President and Chief Executive Officer

Tracey Joubert - Chief Financial Officer

Conference Call Participants

Kevin Grundy - Jefferies

Rob Ottenstein - Evercore

Chris Carey - Wells barge Securities

Vivien Azer - Cowen

Steve Powers - Deutsche Bank

Andrea Teixeira - JPMorgan

Eric Serotta - Morgan Stanley

Nadine Sarwat - Bernstein

Kaumil Gajrawala - Credit Suisse

Gerald Pascarelli - Wedbush Securities

Brett Cooper - Consumer Research

Operator

Good day, and welcome to the Molson Coors Beverage Company Third Quarter Fiscal Year 2022 Earnings Conference Call. You can find related slides with an updated format on the Investor Relations page of the Molson Coors website.

Our speakers today are Gavin Hattersley, President and Chief Executive Officer; and Tracey Joubert, Chief Financial Officer.

With that, I'll hand over to Greg Tierney, Vice President of FP&A and Investor Relations.

Greg Tierney

Thank you, Nadia, and hello, everyone. Following prepared remarks today from Gavin and Tracey, we will take your questions. [Operator Instructions] If you have technical questions on the quarter, please pick them up with our IR team in the days and weeks that follow.

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.

GAAP reconciliations for any non-U.S. GAAP measures are included in our news release. Also, unless otherwise indicated, all financial results the company discusses are versus the comparable prior year period in U.S. dollars and in constant currency when discussing percentage changes from the prior year period. Further, in our remarks today, we will reference underlying pretax income which equates to underlying income before income taxes on the condensed consolidated statements of operations.

With that, over to you, Gavin.

Gavin Hattersley

Thanks, Greg, and thank you all for joining us this morning. I am pleased to report that Molson Coors grew both the top and bottom line on both the constant currency and an underlying basis in the third quarter. But I'm particularly pleased because nearly three years into our revitalization plan to turn around this business, Molson Coors' top and bottom line growth. It's not just the story of a quarter, it's becoming a trend, and that is important.