Gavin Hattersley on tariffs
From Molson Coors Beverage Co ($TAP) Q2 2025 Earnings Call · · Castify Earnings Call
“Further, the Midwest premium pricing, which is a component of our aluminum cost, has been indirectly impacted by recent US tariff announcements, causing another substantial and unexpected spike in the second quarter. For perspective, and as you can clearly see on slide 19 of our earnings deck, in July, the Midwest premium jumped to 68 cents per pound, an increase of over 180% since January.”
On , Gavin Hattersley, Special Advisor at Molson Coors Beverage Company, spoke about tariffs during Molson Coors Beverage Co ($TAP) Q2 2025 Earnings Call on Castify Earnings Call.
About Gavin Hattersley
Gavin Hattersley, former chief executive officer of Molson Coors Beverage Company, retired on October 1, 2025, and remained with the company in an advisory capacity through the end of the year. During the first quarter earnings call in May, Hattersley announced his intention to retire, stating that after nearly 45 years in the workforce and 28 years in the industry, he felt it was time. In the third quarter call, he said he was confident in the company's ability to return to growth despite a difficult period for the industry. Throughout 2025, Hattersley discussed the company's performance amid a challenging macroeconomic environment, citing uncertainty around geopolitical events, global trade policy, and consumer confidence. He noted that the beer industry had been affected by these pressures, with consumers searching for value and engaging in channel and pack shifting rather than segment trade-down. Hattersley attributed the retention of market share gains in core brands such as Coors Light, Miller Lite, and Coors Banquet to the work of the company's chain teams and shelf-space gains. He also addressed the impact of rising Midwest premium pricing on aluminum costs, which he described as a difficult and expensive commodity to hedge, and noted that the company had an extensive hedging program to smooth out unfavorable swings. The company revised its 2025 guidance downward over the course of the year, citing macro pressures and lower-than-expected share performance.