MC Q2 Call: A Softer U.S. Beer Industry Than Anticipated and Tough Back Half Comps

Dear Client: Stop me if you’ve heard this one: Molson Coors Q2 dove into the tough macro/consumer backdrop on yesterday’s earnings call.  It was part of the explanation, woven throughout the presentation, for their downward revision to guidance, which they’d already revised downward in the prior quarter.  Off the bat, the company acknowledged the “challenging” backdrop for consumers. The current environment “is impacting all consumers in one way or another,” said chief Gavin Hattersley.  As reported yesterday, the U.S., their largest