Molson Coors Beverage Company (TAP) CEO Gavin Hattersley on Q1 2022 Results - Earnings Call Transcript

Molson Coors Beverage Company (NYSE:TAP) Q1 2022 Earnings Conference Call May 3, 2022 11:00 AM ET

Company Participants

Greg Tierney – Vice President of FP&A and Investor Relations

Gavin Hattersley - President and Chief Executive Officer

Tracey Joubert - Chief Financial Officer

Conference Call Participants

Kevin Grundy - Jefferies

Nadine Sarwat - Bernstein

Lauren Lieberman - Barclays

Laurent Grandet - Guggenheim

Bryan Spillane - Bank of America

Eric Serotta - Morgan Stanley

Robert Ottenstein - Evercore

Steve Powers - Deutsche Bank

Brett Cooper - Consumer Research

Andrea Teixeira - JPMorgan

Operator

Good day. And welcome to the Molson Coors Beverage Company First Quarter Fiscal Year 2022 Earnings Conference Call. You can find related slides on the Investor Relations page of the Molson Coors website.

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

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

Greg Tierney

All right. Thank you, Breca, and hello, everyone. Following our prepared remarks today from Gavin and Tracey, we will take your questions. In an effort to address as many questions as possible, we ask that you limit yourself to one question. If you have more than one question, we will answer your first question, and then ask you to re-enter the queue for any additional or follow-ups. If you have technical questions on the quarter, please pick them up with our IR team in the days and weeks to follow.

Today's discussion includes forward-looking statements, and 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.

So with that, over to you, Gavin.

Gavin Hattersley

Thank you, Greg. In the first quarter of 2022, Molson Coors continued to generate positive trends, giving us continued confidence in our ability to meet our full year guidance. We grew the top line by double digits on the bottom line on an underlying basis by triple digits.