Meest Canada Launches Comprehensive Guide to Simplify Shipping Nationwide
With Meest, parcel shipping in Canada is made easy for everyday people like you. No need to stand in line or figure out confusing forms. Go online, fill out a few details, and your parcel gets picked up straight at your doorstep.
Why People Love Shipping Across Canada with Meest
There are plenty of reasons to try Meest's domestic shipping Canada service. Helping out family, sending a package to a friend, or handling something for your small business — it's a stress-free solution that fits into real life.
Here's what makes it such a good option:
Home pickup — no post office runs.
Quick online setup. Takes just minutes.
Transparent shipping rates.
Support in multiple languages.
Delivery across Canada — covering Toronto, Winnipeg, Calgary, Ottawa, Vancouver, Edmonton, and more.
Real-time tracking on every shipment.
Perfect for gifts, personal stuff, or business deliveries.
And if it's your first time sending with Meest, you'll receive a $10 discount on your first shipment, making it even more affordable for your wallet!
How to Send a Package: A Step-by-Step
Not sure how to get started? Don't worry, Meest makes it super simple. Here's how to send your domestic shipment in just a few steps:
Go to ca.meest.com/portal and sign up (the process takes under a minute).
Fill in your parcel details — size, weight, pickup and delivery info.
Print your barcode and stick it on the box.
A Meest courier picks up your parcel at your home.
Track your delivery online anytime.
That's it! No post office, no stress. Just smooth, reliable and definitely the cheapest courier service in Canada.
Some Quick Info About the Meest Portal
It saves a bunch of time and headaches. You don't have to visit the post office or call anyone. Plus, you can check shipping prices right away with the online calculator, so you know exactly what you're paying before you send.
Imagine you're a busy parent trying to send a care package to your child at the University of Montreal. Instead of taking time off work to stand in line at the post office, you just log into the Meest Portal during your lunch break. You quickly fill out the form, print the barcode, and schedule a courier to pick up the package right from your home. That's the kind of convenience the Meest Portal offers every day.
What Can You Actually Send?
Meest's domestic shipping fits many everyday situations. It works great for different needs and lifestyles:
Sending care packages or gifts to family and friends.
Helping a student move into a dorm in Montreal or Calgary.
Planning a move and shipping boxes separately.
Running a side hustle and shipping products.
Helping someone in Vancouver, Edmonton, or Ottawa with a parcel
For personal or business needs, Meest is the cheapest way to ship within Canada, and it fits into your daily routine.
Why Meest?
Many delivery services exist, but if you want the most affordable option with quality, reliability, and excellent support, Meest is a smart choice.
This shipping company has over 35 years of experience. Known globally for international shipments, Meest now offers fast and easy domestic shipping, making it a great way to send packages without overpaying.
Final Thoughts
Life is busy. No one wants to waste time in lines or deal with complicated shipping tools. Need to send something across town or across the country? Skip the hassle and try Meest.
When cheap shipping, easy service, and home pickup come together, it just makes sense.
Ready to ship? Visit the shipping in Canada page and get started today.
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National Post
6 minutes ago
- National Post
Molson Coors Beverage Company Reports 2025 Second Quarter Results
Article content GOLDEN, Colo. & MONTRÉAL — Molson Coors Beverage Company ('MCBC,' 'Molson Coors' or 'the Company') (NYSE: TAP, TAP.A; TSX: TPX.A, TPX.B) today reported results for the 2025 second quarter. Article content 2025 SECOND QUARTER FINANCIAL HIGHLIGHTS 1 Article content Article content Net sales decreased 1.6% reported and 2.6% in constant currency. U.S. GAAP income before income taxes decreased 0.9% to $554.9 million. Underlying (Non-GAAP) income before income taxes was $531.5 million, a decrease of 0.8% in constant currency. U.S. GAAP net income attributable to MCBC of $428.7 million, $2.13 per share on a diluted basis. Underlying (Non-GAAP) diluted EPS of $2.05 increased 6.8%. Updated or reaffirmed 2025 full year guidance for the following key financial metrics: Net sales: 3% to 4% decline on a constant currency basis, compared to low single-digit decline, previously Underlying (Non-GAAP) income (loss) before income taxes: 12% to 15% decline on a constant currency basis, compared to a low-single digit decline, previously Underlying (Non-GAAP) diluted earnings per share: 7% to 10% decline compared to a low single-digit growth, previously Underlying (Non-GAAP) net interest expense: $225 million, plus or minus 5%, compared to $215 million, plus or minus 5%, previously Underlying (Non-GAAP) free cash flow: $1.3 billion, plus or minus 10%, remains unchanged Article content 'We continue to view the incremental softness in the industry performance this year as cyclical, and we continue to believe in Molson Coors' ability to achieve its long-term growth objectives. That said, our second quarter financial results were impacted by the macroeconomic environment and its broad effects on the beer industry and consumer, our softer U.S. share performance, as well as the resulting impact of volume deleverage. Additionally, in the quarter we experienced expected headwinds primarily from the discontinuation of our contract brewing arrangements in the Americas at the end of 2024. This was all partially offset by strong price and mix growth across both business units, favorable timing of U.S. shipments and lower MG&A largely due to reduced incentive compensation and the timing of marketing spend. Article content As a result of the anticipated ongoing macroeconomic impacts on the industry, our lower-than-expected U.S. share performance, and higher-than-expected indirect tariff impacts on the pricing of aluminum, in particular the Midwest Premium pricing, we have adjusted our 2025 full year top and bottom-line guidance. However, we are reaffirming our annual underlying free cash flow guidance of $1.3 billion plus or minus 10% due to expected higher cash tax benefits and favorable working capital. Article content While navigating these macroeconomic pressures, we have continued to execute our Acceleration Plan and prudently invest behind our business and our brands to support long-term profitable growth. Collectively, we have held most of the share gains over the last three years for our core U.S. power brands – Coors Light, Miller Lite, and Coors Banquet. We remain committed to our premiumization plans: in EMEA&APAC behind the strength of Madri, in Canada with continued growth in Miller Lite and our flavor portfolio, and in the U.S. with Peroni and our partnership with Fever-Tree as well as continued focus against Blue Moon.' Article content Tracey Joubert, Chief Financial Officer Statement: Article content 'We are pleased with the strength of our balance sheet and cash generation, which is particularly important during a challenging macroeconomic environment. It has allowed us to continue to execute our strategic growth initiatives as well as return $500 million to shareholders for the first half of the year through a competitive dividend and accelerated pace of share repurchases. We are committed to protecting and growing our underlying free cash flow while making prudent capital allocation decisions that support the long-term health of our business and brands and returning even more cash to shareholders.' Article content CONSOLIDATED PERFORMANCE – SECOND QUARTER 2025 For the Three Months Ended ($ in millions, except per share data) (Unaudited) June 30, 2025 June 30, 2024 Reported Increase (Decrease) Foreign Exchange Impact Constant Currency Increase (Decrease) (1) Net sales $ 3,200.8 $ 3,252.3 (1.6 )% $ 32.8 (2.6 )% U.S. GAAP income (loss) before income taxes $ 554.9 $ 559.9 (0.9 )% $ 3.9 (1.6 )% Underlying income (loss) before income taxes (1) $ 531.5 $ 531.2 0.1 % $ 4.4 (0.8 )% U.S. GAAP net income (loss) (2) $ 428.7 $ 427.0 0.4 % Per diluted share (4) $ 2.13 $ 2.03 4.9 % Underlying net income (loss) (1) $ 412.3 $ 404.2 2.0 % Per diluted share $ 2.05 $ 1.92 6.8 % Financial volume (3) 20.870 22.430 (7.0 )% Brand volume (3) 20.612 21.715 (5.1 )% Article content For the Six Months Ended ($ in millions, except per share data) (Unaudited) June 30, 2025 June 30, 2024 Reported Increase (Decrease) Foreign Exchange Impact Constant Currency Increase (Decrease) (1) Net sales $ 5,504.9 $ 5,848.7 (5.9 )% $ 11.7 (6.1 )% U.S. GAAP income (loss) before income taxes $ 711.2 $ 825.3 (13.8 )% $ 4.1 (14.3 )% Underlying income (loss) before income taxes (1) $ 662.6 $ 790.0 (16.1 )% $ 4.8 (16.7 )% U.S. GAAP net income (loss) (2) $ 549.7 $ 634.8 (13.4 )% Per diluted share (4) $ 2.71 $ 2.99 (9.4 )% Underlying net income (loss) (1) $ 514.0 $ 607.0 (15.3 )% Per diluted share $ 2.54 $ 2.86 (11.2 )% Financial volume (3) 36.279 40.404 (10.2 )% Brand volume (3) 36.159 38.614 (6.4 )% The reported percent change and the constant currency percent change in the above table are presented as (unfavorable) favorable. Article content (1) Represents income (loss) before income taxes and net income (loss) attributable to MCBC adjusted for non-GAAP items. See Appendix for definitions and reconciliations of non-GAAP financial measures including constant currency. (2) Net income (loss) attributable to MCBC. (3) See Worldwide and Segment Brand and Financial Volume in the Appendix for definitions of financial volume and brand volume as well as the reconciliation from financial volume to brand volume. Article content QUARTERLY CONSOLIDATED HIGHLIGHTS (VERSUS SECOND QUARTER 2024 RESULTS) Article content Net sales: The following table highlights the drivers of the change in net sales for the three months ended June 30, 2025, compared to June 30, 2024 (in percentages): Article content Net sales decreased 1.6%, driven by lower financial volumes, partially offset by favorable price and sales mix and favorable foreign currency impacts. Net sales decreased 2.6% in constant currency. Article content Financial volumes decreased 7.0%, primarily due to lower shipments in both the Americas and EMEA&APAC segments. Brand volumes decreased 5.1%, including a 4.0% decrease in the Americas as well as a 7.8% decrease in EMEA&APAC. Article content Price and sales mix favorably impacted net sales by 4.4%, primarily due to favorable sales mix and increased net pricing in both segments. Americas favorable sales mix was primarily driven by lower contract brewing volume. Net sales per hectoliter increased 5.8% reported and 4.7% on a constant currency basis. Article content Cost of goods sold ('COGS'): decreased 0.2% on a reported basis, primarily due to lower financial volumes, partially offset by higher cost of goods sold per hectoliter and unfavorable foreign currency impacts of $21.3 million. COGS per hectoliter: increased 7.3% on a reported basis, primarily due to unfavorable mix driven by lower contract brewing volumes in the Americas segment and premiumization, volume deleverage, cost inflation related to materials and manufacturing expenses as well as unfavorable changes in our unrealized mark-to-market commodity derivative positions, partially offset by cost savings initiatives. Underlying (Non-GAAP) COGS per hectoliter: increased 4.9% in constant currency, primarily due to unfavorable mix driven by lower contract brewing volumes in the Americas segment and premiumization, volume deleverage as well as cost inflation related to materials and manufacturing expenses, partially offset by cost savings initiatives. Marketing, general & administrative ('MG&A'): decreased 4.9% on a reported basis, primarily due to timing of marketing investment and lower general and administrative expenses as a result of lower incentive compensation expense, partially offset by unfavorable foreign currency impacts of $7.3 million. Underlying (Non-GAAP) MG&A: decreased 5.8% in constant currency. U.S. GAAP income (loss) before income taxes: U.S. GAAP income before income taxes declined 0.9% on a reported basis, primarily due to lower financial volumes, cost inflation related to materials and manufacturing expenses as well as the unfavorable changes in our unrealized mark-to-market commodity derivative positions, partially offset by increased net pricing, favorable mix, lower MG&A expense, the favorable fair value adjustment of our investment in Fevertree Drinks plc and cost savings initiatives. Underlying (Non-GAAP) income (loss) before income taxes: Underlying income before income taxes decreased 0.8% in constant currency, primarily due to lower financial volumes and cost inflation related to materials and manufacturing expenses, partially offset by increased net pricing, favorable mix, lower MG&A expense and cost savings initiatives. Effective Tax Rate and Underlying (Non-GAAP) Effective Tax Rate Article content (1) See Appendix for definitions and reconciliations of non-GAAP financial measures. Article content The second quarter U.S. GAAP effective tax rate and Underlying (Non-GAAP) effective tax rate were relatively flat compared to the prior year. Article content Net income (loss) attributable to MCBC per diluted share: Net income attributable to MCBC per diluted share increased 4.9%, primarily due to a decrease in the weighted average diluted shares outstanding driven by share repurchases. Underlying (Non-GAAP) net income (loss) attributable to MCBC per diluted share: Underlying net income attributable to MCBC per diluted share increased 6.8%, primarily due to a decrease in the weighted average diluted shares outstanding driven by share repurchases. Article content The following tables highlight the Americas segment results for the three and six months ended June 30, 2025, compared to June 30, 2024: Article content For the Six Months Ended ($ in millions) (Unaudited) June 30, 2025 June 30, 2024 Reported % Change FX Impact Constant Currency % Change (2) Net sales (1) $ 4,386.6 $ 4,721.3 (7.1 ) $ (19.4 ) (6.7 ) Income (loss) before income taxes (1) $ 747.5 $ 807.7 (7.5 ) $ 0.3 (7.5 ) Underlying income (loss) before income taxes (1)(2) $ 717.0 $ 808.5 (11.3 ) $ 0.3 (11.4 ) The reported percent change and the constant currency percent change in the above tables are presented as (unfavorable) favorable. Article content (1) Includes gross inter-segment volumes, sales and purchases, which are eliminated in the consolidated totals. (2) Represents income (loss) before income taxes adjusted for non-GAAP items. See Appendix for definitions and reconciliations of non-GAAP financial measures including constant currency. Article content Americas Segment Highlights (Versus Second Quarter 2024 Results) Article content Net sales: The following table highlights the drivers of the change in net sales for the three months ended June 30, 2025, compared to June 30, 2024 (in percentages): Article content Net sales decreased 2.8%, driven by lower financial volumes and unfavorable foreign currency impacts, partially offset by favorable price and sales mix. Net sales decreased 2.6% in constant currency. Article content Financial volumes decreased 6.6%, primarily due to lower U.S. brand volume and an approximate 3% impact from lower contract brewing volume related to the exit of contract brewing arrangements in both the U.S. and Canada at the end of 2024, partially offset by favorable timing of U.S. shipments. Americas brand volumes decreased 4.0%, including a 5.3% decrease in the U.S., impacted by the macroeconomic environment resulting in industry softness as well as lower share performance. Article content Price and sales mix favorably impacted net sales by 4.0%, primarily due to favorable sales mix as a result of lower contract brewing volumes and positive brand mix as well as increased net pricing. Net sales per hectoliter increased 4.2% reported and 4.3% on a constant currency basis. Article content U.S. GAAP income (loss) before income taxes: U.S. GAAP income before income taxes increased 10.5% on a reported basis, primarily due to favorable mix, increased net pricing, lower MG&A expense, favorable unrealized fair value adjustment of the investment in Fevertree Drinks plc and cost savings initiatives, partially offset by lower financial volumes and cost inflation related to materials and manufacturing expenses. Lower MG&A spend was primarily due to timing of marketing investment and lower incentive compensation. Article content Underlying (Non-GAAP) income (loss) before income taxes: Underlying income before income taxes increased 5.4% in constant currency, primarily due to favorable mix, increased net pricing, lower MG&A expense and cost savings initiatives, partially offset by lower financial volumes and cost inflation related to materials and manufacturing expenses. Article content The following tables highlight the EMEA&APAC segment results for the three and six months ended June 30, 2025, compared to June 30, 2024: Article content For the Three Months Ended ($ in millions) (Unaudited) June 30, 2025 June 30, 2024 Reported % Change FX Impact Constant Currency % Change (2) Net sales (1) $ 703.9 $ 683.3 3.0 $ 36.3 (2.3 ) Income (loss) before income taxes (1) $ 64.8 $ 81.2 (20.2 ) $ 5.4 (26.8 ) Underlying income (loss) before income taxes (1)(2) $ 72.4 $ 81.0 (10.6 ) $ 5.9 (17.9 ) Article content For the Six Months Ended ($ in millions) (Unaudited) June 30, 2025 June 30, 2024 Reported % Change FX Impact Constant Currency % Change (2) Net sales (1) $ 1,131.2 $ 1,138.0 (0.6 ) $ 31.1 (3.3 ) Income (loss) before income taxes (1) $ 45.6 $ 70.2 (35.0 ) $ 7.4 (45.6 ) Underlying income (loss) before income taxes (1)(2) $ 53.2 $ 63.7 (16.5 ) $ 7.9 (28.9 ) The reported percent change and the constant currency percent change in the above tables are presented as (unfavorable) favorable. Article content (1) Includes gross inter-segment volumes, sales and purchases, which are eliminated in the consolidated totals. (2) Represents income (loss) before income taxes adjusted for non-GAAP items. See Appendix for definitions and reconciliations of non-GAAP financial measures including constant currency. Article content EMEA&APAC Segment Highlights (Versus Second Quarter 2024 Results) Article content Net sales: The following table highlights the drivers of the change in net sales for the three months ended June 30, 2025, compared to June 30, 2024 (in percentages): Article content Net Sales Drivers (unaudited) Financial volume (7.8 %) Price and sales mix 5.5 % Currency 5.3 % Total EMEA&APAC net sales 3.0 % The percent change in the above table is presented as (unfavorable) favorable. Article content Net sales increased 3.0%, driven by favorable price and sales mix and favorable foreign currency impacts, partially offset by lower financial volumes. Net sales decreased 2.3% in constant currency. Article content Financial and brand volumes decreased 7.8%, primarily due to lower volumes across all regions driven by soft market demand and a heightened competitive landscape. Article content Price and sales mix favorably impacted net sales by 5.5%, primarily due to geographic mix, premiumization and higher factored brand volumes, as well as increased net pricing. Net sales per hectoliter increased 11.8% reported and 6.0% on a constant currency basis. Article content U.S. GAAP income (loss) before income taxes: U.S. GAAP income before income taxes decreased 20.2% on a reported basis primarily due to lower financial volumes and higher U.K. waste management fees as a result of the change in the extended producer responsibility regulations, partially offset by lower MG&A expense driven by lower incentive compensation and cost savings, increased net pricing and favorable mix, as well as favorable foreign currency impacts of $5.4 million. Underlying (Non-GAAP) income (loss) before income taxes: Underlying income before income taxes decreased 17.9% in constant currency, primarily due to lower financial volumes and higher U.K. waste management fees as a result of the change in the extended producer responsibility regulations, partially offset by lower MG&A expense driven by lower incentive compensation and cost savings, increased net pricing and favorable mix. Article content CASH FLOW AND LIQUIDITY HIGHLIGHTS Article content U.S. GAAP cash from operations: Net cash provided by operating activities of $627.6 million for the six months ended June 30, 2025, decreased $267.0 million compared to $894.6 million for the six months ended June 30, 2024. The decrease in net cash provided by operating activities was primarily due to lower net income adjusted for non-cash items, the unfavorable movement of working capital and higher interest paid, partially offset by lower income taxes paid. The unfavorable movement of working capital was primarily driven by the $60.6 million payment as final resolution of the Keystone litigation case and the timing of payables and inventories, partially offset by lower payments for prior year annual incentive compensation and the timing of receivables. Underlying (Non-GAAP) free cash flow: Cash provided of $293.5 million for the six months ended June 30, 2025, represents a decrease in cash provided of $211.5 million from the prior year, which was primarily due to a decline in operating cash flows, partially offset by cash impact of non-GAAP adjustment of $60.6 million payment as final resolution of the Keystone litigation case. Debt: Total debt as of June 30, 2025, was $6,319.3 million and cash and cash equivalents totaled $613.8 million, resulting in net debt of $5,705.5 million and a net debt to underlying EBITDA ratio of 2.41x. As of June 30, 2024, our net debt to underlying EBITDA ratio was 2.13x. Dividends: We paid cash dividends of $192.7 million and $188.4 million for the six months ended June 30, 2025 and June 30, 2024, respectively. Share Repurchase Program: We paid $306.8 million and $375.3 million, including brokerage commissions, for share repurchases during the six months ended June 30, 2025 and June 30, 2024, respectively. Article content 2025 OUTLOOK Article content We have adjusted our 2025 guidance for certain key financial metrics due to the impacts of the global macroeconomic environment on the beer industry and consumer trends along with lower-than-expected U.S. share performance. While we have included in our guidance our best estimate of some of these factors, including the indirect tariff impacts on the pricing of aluminum, in particular the Midwest Premium, the impacts of these trends are difficult to predict and include inherent uncertainties that could impact our financial performance beyond what is contemplated in our guidance. Article content Net sales: 3% to 4% decline on a constant currency basis, compared to low single-digit decline, previously Underlying (Non-GAAP) income (loss) before income taxes: 12%-15% decline on a constant currency basis, compared to a low-single digit decline, previously Underlying (Non-GAAP) diluted earnings per share: 7%-10% decline compared to a low single-digit growth, previously Underlying (Non-GAAP) net interest expense: $225 million, plus or minus 5%, compared to $215 million, plus or minus 5%, previously Capital expenditures: $650 million incurred, plus or minus 5% remained unchanged from the first quarter of 2025 Underlying (Non-GAAP) free cash flow: $1.3 billion, plus or minus 10% Underlying (Non-GAAP) depreciation and amortization: $675 million, plus or minus 5% Underlying (Non-GAAP) effective tax rate: in the range of 22% to 24% Article content SUBSEQUENT EVENTS Article content On July 16, 2025, our Board declared a dividend of $0.47 per share, to be paid on September 19, 2025, to shareholders of Class A and Class B common stock of record on September 5, 2025. Shareholders of exchangeable shares will receive the CAD equivalent of dividends declared on Class A and Class B common stock, equal to CAD 0.64 per share. On July 4, 2025, the One Big Beautiful Bill Act ('OBBBA') was enacted into law in the U.S. The OBBBA permanently extends certain expiring provisions from the Tax Cuts and Jobs Act of 2017, including accelerated tax recovery for certain capital investments and research and development expenditures and the business interest expense limitation. Additionally, the OBBBA includes changes to the taxation of foreign income for U.S.-domiciled businesses. While we are currently evaluating the impact of the OBBBA to the Company, we do anticipate a decrease in our current year cash tax liability as a result of the OBBBA. Article content NOTES Article content Unless otherwise indicated in this release, all $ amounts are in U.S. Dollars, and all quarterly comparative results are for the Company's second quarter ended June 30, 2025, compared to the second quarter ended June 30, 2024. Some numbers may not sum due to rounding. Article content 2025 SECOND QUARTER INVESTOR CONFERENCE CALL Article content Molson Coors Beverage Company will conduct an earnings conference call with financial analysts and investors at 8:30 a.m. Eastern Time today to discuss the Company's 2025 second quarter results. The live webcast will be accessible via our website, An online replay of the webcast is expected to be posted within two hours following the live webcast. The Company will post this release and related financial statements on its website today. Article content For more than two centuries, we have brewed beverages that unite people to celebrate all life's moments. From our core power brands Coors Light, Miller Lite, Coors Banquet, Molson Canadian, Carling and Ožujsko to our above premium brands including Madrí Excepcional, Staropramen, Blue Moon Belgian White and Leinenkugel's Summer Shandy, to our economy and value brands like Miller High Life and Keystone Light, we produce many beloved and iconic beers. While our Company's history is rooted in beer, we offer a modern portfolio that expands beyond the beer aisle as well, including flavored beverages like Vizzy Hard Seltzer, spirits like Five Trail whiskey and non-alcoholic beverages. We also have partner brands, such as Simply Spiked, ZOA Energy, Fever-Tree, among others, through license, distribution, partnership and joint venture agreements. As a business, our ambition is to be the first choice for our people, our consumers and our customers, and our success depends on our ability to make our products available to meet a wide range of consumer segments and occasions. Article content ABOUT MOLSON COORS CANADA INC. Article content Molson Coors Canada Inc. ('MCCI') is a subsidiary of Molson Coors Beverage Company. MCCI Class A and Class B exchangeable shares offer substantially the same economic and voting rights as the respective classes of common shares of MCBC, as described in MCBC's annual proxy statement and Form 10-K filings with the U.S. Securities and Exchange Commission. The trustee holder of the special Class A voting stock and the special Class B voting stock has the right to cast a number of votes equal to the number of then outstanding Class A exchangeable shares and Class B exchangeable shares, respectively. Article content This press release includes 'forward-looking statements' within the meaning of the U.S. federal securities laws. Generally, the words 'expects,' 'intend,' 'goals,' 'plans,' 'believes,' 'confidence,' 'view,' 'continues,' 'may,' 'anticipate,' 'seek,' 'estimate,' 'outlook,' 'trends,' 'future benefits,' 'potential,' 'projects,' 'strategies,' 'implies,' and variations of such words and similar expressions are intended to identify forward-looking statements. Statements that refer to projections of our future financial performance, our anticipated growth and trends in our businesses, and other characterizations of future events or circumstances are forward-looking statements, and include, but are not limited to, statements under the headings 'CEO and CFO Perspectives' and '2025 Outlook,' with respect to, among others, expectations and impacts of cost inflation and tariffs, limited consumer disposable income, consumer preferences, overall volume and market share trends, our competitive position, pricing trends, macroeconomic forces, beverage industry trends, cost reduction strategies, execution of our Acceleration Plan, shipment levels and profitability, the sufficiency of capital resources, anticipated results, expectations for funding future capital expenditures and operations, effective tax rate, debt service capabilities, timing and amounts of debt and leverage levels, Preserving the Planet and related initiatives, expectations regarding the impact of the OBBBA on our current year cash tax liability and expectations regarding future dividends and share repurchases. In addition, statements that we make in this press release that are not statements of historical fact may also be forward-looking statements. Article content Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's historical experience, and present projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission ('SEC'), including the risks discussed in our filings with the SEC, including our most recent Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Article content MARKET AND INDUSTRY DATA Article content The market and industry data used, if any, in this press release are based on independent industry publications, customer specific data, trade or business organizations, reports by market research firms and other published statistical information from third parties, including Circana (formerly Information Resources, Inc.) for U.S. market data and Beer Canada for Canadian market data (collectively, the 'Third Party Information'), as well as information based on management's good faith estimates, which we derive from our review of internal information and independent sources. Such Third Party Information generally states that the information contained therein or provided by such sources has been obtained from sources believed to be reliable. Article content STATEMENTS OF OPERATIONS – MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES Condensed Consolidated Statements of Operations (In millions, except per share data) (Unaudited) For the Three Months Ended For the Six Months Ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Sales $ 3,740.0 $ 3,838.1 $ 6,430.2 $ 6,887.4 Excise taxes (539.2 ) (585.8 ) (925.3 ) (1,038.7 ) Net sales 3,200.8 3,252.3 5,504.9 5,848.7 Cost of goods sold (1,918.9 ) (1,922.4 ) (3,372.1 ) (3,555.3 ) Gross profit 1,281.9 1,329.9 2,132.8 2,293.4 Marketing, general and administrative expenses (693.1 ) (728.5 ) (1,346.3 ) (1,383.1 ) Other operating income (expense), net (9.2 ) 0.1 (25.1 ) 6.4 Equity income (loss) 4.0 (1.9 ) 8.5 (2.8 ) Operating income (loss) 583.6 599.6 769.9 913.9 Interest income (expense), net (58.5 ) (51.2 ) (115.1 ) (99.6 ) Other pension and postretirement benefits (costs), net 3.5 7.3 7.3 14.7 Other non-operating income (expense), net 26.3 4.2 49.1 (3.7 ) Income (loss) before income taxes 554.9 559.9 711.2 825.3 Income tax benefit (expense) (130.6 ) (134.6 ) (163.8 ) (190.1 ) Net income (loss) 424.3 425.3 547.4 635.2 Net (income) loss attributable to noncontrolling interests 4.4 1.7 2.3 (0.4 ) Net income (loss) attributable to MCBC $ 428.7 $ 427.0 $ 549.7 $ 634.8 Basic net income (loss) attributable to MCBC per share $ 2.14 $ 2.03 $ 2.73 $ 3.00 Diluted net income (loss) attributable to MCBC per share $ 2.13 $ 2.03 $ 2.71 $ 2.99 Weighted average shares outstanding – basic 200.5 210.0 201.7 211.3 Weighted average shares outstanding – diluted 201.2 210.8 202.6 212.5 Dividends per share $ 0.47 $ 0.44 $ 0.94 $ 0.88 Article content BALANCE SHEETS – MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES Condensed Consolidated Balance Sheets (In millions, except par value) (Unaudited) As of June 30, 2025 December 31, 2024 Assets Current assets Cash and cash equivalents $ 613.8 $ 969.3 Trade receivables, net 1,021.7 693.1 Other receivables, net 133.7 149.8 Inventories, net 902.0 727.8 Other current assets, net 404.9 308.4 Total current assets 3,076.1 2,848.4 Property, plant and equipment, net 4,633.4 4,460.4 Goodwill 5,592.0 5,582.3 Other intangibles, net 12,394.4 12,195.2 Other assets 1,130.8 978.0 Total assets $ 26,826.7 $ 26,064.3 Liabilities and equity Current liabilities Accounts payable and other current liabilities $ 3,178.3 $ 3,013.0 Current portion of long-term debt and short-term borrowings 62.3 32.2 Total current liabilities 3,240.6 3,045.2 Long-term debt 6,257.0 6,113.9 Pension and postretirement benefits 415.1 416.7 Deferred tax liabilities 2,794.2 2,733.4 Other liabilities 323.1 302.4 Total liabilities 13,030.0 12,611.6 Redeemable noncontrolling interest 160.4 168.5 Molson Coors Beverage Company stockholders' equity Capital stock Preferred stock, $0.01 par value (authorized: 25.0 shares; none issued) — — Class A common stock, $0.01 par value (authorized: 500.0 shares; issued and outstanding: 2.6 shares and 2.6 shares, respectively) — — Class B common stock, $0.01 par value (authorized: 500.0 shares; issued: 216.1 shares and 215.5 shares, respectively) 2.2 2.1 Class A exchangeable shares, no par value (issued and outstanding: 2.7 shares and 2.7 shares, respectively) 100.8 100.8 Class B exchangeable shares, no par value (issued and outstanding: 7.1 shares and 7.2 shares, respectively) 266.9 271.1 Paid-in capital 7,230.6 7,223.6 Retained earnings 8,597.5 8,238.0 Accumulated other comprehensive income (loss) (1,066.9 ) (1,362.4 ) Class B common stock held in treasury at cost (30.3 shares and 24.8 shares, respectively) (1,690.4 ) (1,380.8 ) Total Molson Coors Beverage Company stockholders' equity 13,440.7 13,092.4 Noncontrolling interests 195.6 191.8 Total equity 13,636.3 13,284.2 Total liabilities and equity $ 26,826.7 $ 26,064.3 Article content CASH FLOW STATEMENTS – MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (In millions) (Unaudited) For the Six Months Ended June 30, 2025 June 30, 2024 Cash flows from operating activities Net income (loss) including noncontrolling interests $ 547.4 $ 635.2 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities Depreciation and amortization 350.4 336.7 Amortization of debt issuance costs and discounts 2.6 2.7 Share-based compensation 18.9 24.2 (Gain) loss on sale or impairment of property, plant, equipment and other assets, net (6.1 ) (6.4 ) Unrealized (gain) loss on foreign currency fluctuations, fair value investments and derivative instruments, net (77.4 ) (28.0 ) Equity (income) loss (8.5 ) 2.8 Income tax (benefit) expense 163.8 190.1 Income tax (paid) received (58.0 ) (105.2 ) Interest expense, excluding amortization of debt issuance costs and discounts 120.3 110.5 Interest paid (137.2 ) (102.5 ) Other non-cash items, net (2.1 ) — Change in current assets and liabilities (net of impact of business combinations) and other (286.5 ) (165.5 ) Net cash provided by (used in) operating activities 627.6 894.6 Cash flows from investing activities Additions to property, plant and equipment (400.6 ) (392.2 ) Proceeds from sales of property, plant, equipment and other assets 4.4 10.3 Acquisition of business, net of cash acquired (20.8 ) — Other (82.7 ) 0.5 Net cash provided by (used in) investing activities (499.7 ) (381.4 ) Cash flows from financing activities Dividends paid (192.7 ) (188.4 ) Payments for purchases of treasury stock (306.8 ) (375.3 ) Payments on debt and borrowings (5.8 ) (3.4 ) Proceeds on debt and borrowings — 863.7 Other (0.9 ) (11.0 ) Net cash provided by (used in) financing activities (506.2 ) 285.6 Effect of foreign exchange rate changes on cash and cash equivalents 22.8 (20.4 ) Net increase (decrease) in cash and cash equivalents (355.5 ) 778.4 Balance at beginning of year 969.3 868.9 Balance at end of period $ 613.8 $ 1,647.3 Article content SUMMARIZED SEGMENT RESULTS (hectoliter volume and $ in millions) (Unaudited) Americas Q2 2025 Q2 2024 Reported % Change FX Impact Constant Currency % Change (3) YTD 2025 YTD 2024 Reported % Change FX Impact Constant Currency % Change (3) Net sales (1) $ 2,504.8 $ 2,575.9 (2.8 ) $ (3.5 ) (2.6 ) $ 4,386.6 $ 4,721.3 (7.1 ) $ (19.4 ) (6.7 ) COGS (1)(2) $ (1,468.4 ) $ (1,525.7 ) 3.8 $ 2.4 3.6 $ (2,638.3 ) $ (2,841.2 ) 7.1 $ 12.5 6.7 MG&A $ (526.4 ) $ (560.7 ) 6.1 $ 1.0 5.9 $ (1,040.7 ) $ (1,067.4 ) 2.5 $ 7.1 1.8 Income (loss) before income taxes $ 538.2 $ 487.1 10.5 $ 0.5 10.4 $ 747.5 $ 807.7 (7.5 ) $ 0.3 (7.5 ) Underlying income (loss) before income taxes (3) $ 514.2 $ 487.4 5.5 $ 0.5 5.4 $ 717.0 $ 808.5 (11.3 ) $ 0.3 (11.4 ) Financial volume (1)(4) 15.307 16.396 (6.6 ) 27.049 30.306 (10.7 ) Brand volume 15.038 15.670 (4.0 ) 26.969 28.561 (5.6 ) EMEA&APAC Q2 2025 Q2 2024 Reported % Change FX Impact Constant Currency % Change (3) YTD 2025 YTD 2024 Reported % Change FX Impact Constant Currency % Change (3) Net sales (1) $ 703.9 $ 683.3 3.0 $ 36.3 (2.3 ) $ 1,131.2 $ 1,138.0 (0.6 ) $ 31.1 (3.3 ) COGS (1)(2) $ (465.4 ) $ (431.9 ) (7.8 ) $ (23.7 ) (2.3 ) $ (772.4 ) $ (753.5 ) (2.5 ) $ (19.5 ) 0.1 MG&A $ (166.7 ) $ (167.8 ) 0.7 $ (8.3 ) 5.6 $ (305.6 ) $ (315.7 ) 3.2 $ (5.7 ) 5.0 Income (loss) before income taxes $ 64.8 $ 81.2 (20.2 ) $ 5.4 (26.8 ) $ 45.6 $ 70.2 (35.0 ) $ 7.4 (45.6 ) Underlying income (loss) before income taxes (3) $ 72.4 $ 81.0 (10.6 ) $ 5.9 (17.9 ) $ 53.2 $ 63.7 (16.5 ) $ 7.9 (28.9 ) Financial volume (1)(4) 5.564 6.037 (7.8 ) 9.233 10.101 (8.6 ) Brand volume 5.574 6.045 (7.8 ) 9.190 10.053 (8.6 ) Unallocated & Eliminations Q2 2025 Q2 2024 Reported % Change FX Impact Constant Currency % Change (3) YTD 2025 YTD 2024 Reported % Change FX Impact Constant Currency % Change (3) Net sales $ (7.9 ) $ (6.9 ) (14.5 ) $ — (14.5 ) $ (12.9 ) $ (10.6 ) (21.7 ) — (21.7 ) COGS (2) $ 14.9 $ 35.2 (57.7 ) $ — (57.7 ) $ 38.6 $ 39.4 (2.0 ) $ (0.2 ) (1.5 ) Income (loss) before income taxes $ (48.1 ) $ (8.4 ) (472.6 ) $ (2.0 ) (448.8 ) $ (81.9 ) $ (52.6 ) (55.7 ) $ (3.6 ) (48.9 ) Underlying income (loss) before income taxes (3) $ (55.1 ) $ (37.2 ) (48.1 ) $ (2.0 ) (42.7 ) $ (107.6 ) $ (82.2 ) (30.9 ) $ (3.4 ) (26.8 ) Financial volume (0.001 ) (0.003 ) N/M (0.003 ) (0.003 ) N/M Consolidated Q2 2025 Q2 2024 Reported % Change FX Impact Constant Currency % Change (3) YTD 2025 YTD 2024 Reported % Change FX Impact Constant Currency % Change (3) Net sales $ 3,200.8 $ 3,252.3 (1.6 ) $ 32.8 (2.6 ) $ 5,504.9 $ 5,848.7 (5.9 ) $ 11.7 (6.1 ) COGS $ (1,918.9 ) $ (1,922.4 ) 0.2 $ (21.3 ) 1.3 $ (3,372.1 ) $ (3,555.3 ) 5.2 $ (7.2 ) 5.4 MG&A $ (693.1 ) $ (728.5 ) 4.9 $ (7.3 ) 5.9 $ (1,346.3 ) $ (1,383.1 ) 2.7 $ 1.4 2.6 Income (loss) before income taxes $ 554.9 $ 559.9 (0.9 ) $ 3.9 (1.6 ) $ 711.2 $ 825.3 (13.8 ) $ 4.1 (14.3 ) Underlying income (loss) before income taxes (3) $ 531.5 $ 531.2 0.1 $ 4.4 (0.8 ) $ 662.6 $ 790.0 (16.1 ) $ 4.8 (16.7 ) Financial volume (4) 20.870 22.430 (7.0 ) 36.279 40.404 (10.2 ) Brand volume 20.612 21.715 (5.1 ) 36.159 38.614 (6.4 ) N/M = not meaningful The reported percent change and the constant currency percent change in the above table are presented as (unfavorable) favorable. Article content (1) Includes gross inter-segment volumes, sales and purchases, which are eliminated in the consolidated totals. (2) The unrealized changes in fair value on our commodity swaps, which are economic hedges, are recorded as COGS within Unallocated. As the exposure we are managing is realized, we reclassify the gain or loss to the segment in which the underlying exposure resides, allowing our segments to realize the economic effects of the derivative without the resulting unrealized mark-to-market volatility. (3) Represents income (loss) before taxes adjusted for non-GAAP items. See the Non-GAAP Measures and Reconciliations section for definitions and reconciliations of non-GAAP financial measures including constant currency. (4) Financial volume in hectoliters for the Americas and EMEA&APAC segments excludes royalty volume of 0.693 million hectoliters and 0.336 million hectoliters, respectively, for the three months ended June 30, 2025 and excludes royalty volume of 0.578 million hectoliters and 0.325 million hectoliters, respectively, for the three months ended June 30, 2024. Financial volume in hectoliters for the Americas and EMEA&APAC segments excludes royalty volume of 1.366 million hectoliters and 0.556 million hectoliters, respectively, for the six months ended June 30, 2025 and excludes royalty volume of 1.169 million hectoliters and 0.543 million hectoliters respectively, for the six months ended June 30, 2024. Article content WORLDWIDE AND SEGMENT BRAND AND FINANCIAL VOLUME (in millions of hectoliters) (Unaudited) For the Three Months Ended Americas June 30, 2025 June 30, 2024 Change Financial Volume 15.307 16.396 (6.6 )% Contract brewing and wholesale/factored volume (0.415 ) (0.930 ) (55.4 )% Royalty volume 0.693 0.578 19.9 % Sales-To-Wholesaler to Sales-To-Retail adjustment and other (1) (0.547 ) (0.374 ) 46.3 % Total Americas Brand Volume 15.038 15.670 (4.0 )% EMEA&APAC June 30, 2025 June 30, 2024 Change Financial Volume 5.564 6.037 (7.8 )% Contract brewing and wholesale/factored volume (0.326 ) (0.317 ) 2.8 % Royalty volume 0.336 0.325 3.4 % Total EMEA&APAC Brand Volume 5.574 6.045 (7.8 )% Consolidated June 30, 2025 June 30, 2024 Change Financial Volume 20.870 22.430 (7.0 )% Contract brewing and wholesale/factored volume (0.741 ) (1.247 ) (40.6 )% Royalty volume 1.029 0.903 14.0 % Sales-To-Wholesaler to Sales-To-Retail adjustment and other (0.546 ) (0.371 ) 47.2 % Total Worldwide Brand Volume 20.612 21.715 (5.1 )% Article content For the Six Months Ended Americas June 30, 2025 June 30, 2024 Change Financial Volume 27.049 30.306 (10.7 )% Contract brewing and wholesale/factored volume (0.800 ) (1.800 ) (55.6 )% Royalty volume 1.366 1.169 16.9 % Sales-To-Wholesaler to Sales-To-Retail adjustment and other (1) (0.646 ) (1.114 ) (42.0 )% Total Americas Brand Volume 26.969 28.561 (5.6 )% EMEA&APAC June 30, 2025 June 30, 2024 Change Financial Volume 9.233 10.101 (8.6 )% Contract brewing and wholesale/factored volume (0.599 ) (0.591 ) 1.4 % Royalty volume 0.556 0.543 2.4 % Total EMEA&APAC Brand Volume 9.190 10.053 (8.6 )% Consolidated June 30, 2025 June 30, 2024 Change Financial Volume 36.279 40.404 (10.2 )% Contract brewing and wholesale/factored volume (1.399 ) (2.391 ) (41.5 )% Royalty volume 1.922 1.712 12.3 % Sales-To-Wholesaler to Sales-To-Retail adjustment and other (0.643 ) (1.111 ) (42.1 )% Total Worldwide Brand Volume 36.159 38.614 (6.4 )% Article content (1) Includes gross inter-segment volumes which are eliminated in the consolidated totals. Article content Worldwide brand volume (or 'brand volume' when discussed by segment) reflects owned or actively managed brands sold to unrelated external customers within our geographic markets (net of returns and allowances), royalty volume and our proportionate share of equity investment worldwide brand volume calculated consistently with MCBC owned volume. Financial volume represents owned or actively managed brands sold to unrelated external customers within our geographical markets, net of returns and allowances as well as contract brewing, wholesale non-owned brand volume and company-owned distribution volume. Contract brewing and wholesale/factored volume is included within financial volume, but is removed from worldwide brand volume, as this is non-owned volume for which we do not directly control performance. Factored volume in our EMEA&APAC segment represents the distribution of beer, wine, spirits and other products owned and produced by other companies to the on-premise channel such as bars and restaurants, which is a common arrangement in the U.K. Royalty volume consists of our brands produced and sold by third parties under various license and contract brewing agreements and, because this is owned volume, it is included in worldwide brand volume. Our worldwide brand volume definition also includes an adjustment from Sales-to-Wholesaler ('STW') volume to Sales-to-Retailer ('STR') volume. We believe the brand volume metric is important because, unlike financial volume and STWs, it provides the closest indication of the performance of our brands in relation to market and competitor sales trends. Article content We also utilize net sales per hectoliter and COGS per hectoliter, as well as the year over year changes in these metrics, as key metrics for analyzing our results. These metrics are calculated as net sales and COGS per our unaudited condensed consolidated statements of operations divided by financial volume for the respective period. We believe these metrics are important and useful for investors and management because it provides an indication of the trends of price and sales mix on our net sales and the trends of sales mix and other cost impacts on our COGS. Article content Use of Non-GAAP Measures Article content In addition to financial measures presented on the basis of accounting principles generally accepted in the U.S. ('U.S. GAAP'), we also use non-GAAP financial measures, as listed and defined below, for operational and financial decision making and to assess Company and segment business performance. These non-GAAP measures should be viewed as supplements to (not substitutes for) our results of operations presented under U.S. GAAP. We have provided reconciliations of all historical non-GAAP measures to their nearest U.S. GAAP measure and have consistently applied the adjustments within our reconciliations in arriving at each non-GAAP measure. Article content Our management uses these metrics to assist in comparing performance from period to period on a consistent basis; as a measure for planning and forecasting overall expectations and for evaluating actual results against such expectations; in communications with the Board of Directors, stockholders, analysts and investors concerning our financial performance; as useful comparisons to the performance of our competitors; and as metrics of certain management incentive compensation calculations. We believe these measures are used by, and are useful to, investors and other users of our financial statements in evaluating our operating performance. Article content Underlying Income (Loss) before Income Taxes (Closest GAAP Metric: Income (Loss) Before Income Taxes) – Measure of the Company's or segment's income (loss) before income taxes excluding the impact of certain non-GAAP adjustment items from our U.S. GAAP financial statements. Non-GAAP adjustment items include goodwill and other intangible and tangible asset impairments, certain restructuring and integration related costs, unrealized mark-to-market gains and losses, adjustments to the redemption value of mandatorily redeemable noncontrolling interests, potential or incurred losses related to certain litigation accruals and settlements, impacts of settlement charges related to annuity purchases and gains and losses on sales of non-operating assets, among other items included in our U.S. GAAP results that warrant adjustment to arrive at non-GAAP results. We consider these items to be necessary adjustments for purposes of evaluating our ongoing business performance and are often considered non-recurring. Such adjustments are subjective, involve significant management judgment and can vary substantially from company to company. Underlying COGS (Closest GAAP Metric: COGS) – Measure of the Company's COGS adjusted to exclude non-GAAP adjustment items (as defined above). Non-GAAP adjustment items include, among other items, unrealized mark-to-market gains and losses on our commodity derivative instruments, which are economic hedges, and are recorded through COGS within Unallocated. As the exposure we are managing is realized, we reclassify the gain or loss to the segment in which the underlying exposure resides, allowing our segments to realize the economic effects of the derivatives without the resulting unrealized mark-to-market volatility. We also use underlying COGS per hectoliter, as well as the year over year change in such metric, as a key metric for analyzing our results. This metric is calculated as underlying COGS divided by financial volume for the respective period. Article content Underlying MG&A (Closest GAAP Metric: MG&A) – Measure of the Company's MG&A expense excluding the impact of certain non-GAAP adjustment items (as defined above). Underlying net interest income (expense), net (Closest GAAP Metric: Interest income (expense), net) – Measure of the Company's net interest expense adjusted to exclude adjustments to the redemption value of mandatorily redeemable noncontrolling interests. Underlying net income (loss) attributable to MCBC (Closest GAAP Metric: Net income (loss) attributable to MCBC) – Measure of net income (loss) attributable to MCBC excluding the impact of income (loss) before income tax non-GAAP adjustment items (as defined above), adjustments to the carrying value of redeemable noncontrolling interests resulting from subsequent changes in the redemption value of such interests, the related tax effects of non-GAAP adjustment items and certain other discrete tax items. Underlying net income (loss) attributable to MCBC per diluted share (also referred to as Underlying Diluted Earnings per Share) (Closest GAAP Metric: Net income (loss) attributable to MCBC per diluted share) – Measure of underlying net income (loss) attributable to MCBC (as defined above) per diluted share. If applicable, a reported net loss attributable to MCBC per diluted share is calculated using the basic share count due to dilutive shares being antidilutive. If underlying net income (loss) attributable to MCBC becomes income excluding the impact of our non-GAAP adjustment items, we include the incremental dilutive shares, using the treasury stock method, into the dilutive shares outstanding. Underlying effective tax rate (Closest GAAP Metric: Effective Tax Rate) – Measure of the Company's effective tax rate excluding the related tax impact of pre-tax non-GAAP adjustment items (as defined above) and certain other discrete tax items. Discrete tax items include certain significant tax audit and prior year reserve adjustments, impact of significant tax legislation and tax rate changes and significant non-recurring and period specific tax items. Underlying free cash flow (Closest GAAP Metric: Net Cash Provided by (Used in) Operating Activities) – Measure of the Company's operating cash flow calculated as Net Cash Provided by (Used In) Operating Activities less Additions to property, plant and equipment and excluding the pre-tax cash flow impact of certain non-GAAP adjustment items (as defined above). We consider underlying free cash flow an important measure of our ability to generate cash, grow our business and enhance shareholder value, driven by core operations and after adjusting for non-GAAP adjustment items, which can vary substantially from company to company depending upon accounting methods, book value of assets and capital structure. Underlying depreciation and amortization (Closest GAAP Metric: Depreciation & Amortization) – Measure of the Company's depreciation and amortization excluding the impact of non-GAAP adjustment items (as defined above). These adjustments primarily consist of accelerated depreciation or amortization taken related to the Company's strategic exit or restructuring activities. Net debt and net debt to underlying earnings before interest, taxes, depreciation, and amortization ('underlying EBITDA') (Closest GAAP Metrics: Cash, Debt, & Net Income (Loss)) – Measure of the Company's leverage calculated as net debt (defined as current portion of long-term debt and short-term borrowings plus long-term debt less cash and cash equivalents) divided by the trailing twelve month underlying EBITDA. Underlying EBITDA is calculated as Net income (loss) excluding Interest expense (income), net, Income tax expense (benefit), depreciation and amortization and the impact of non-GAAP adjustment items (as defined above). Effective January 1, 2025, on a prospective basis, Underlying EBITDA excludes amortization of cloud-based software implementation costs. This measure is not the same as the Company's maximum leverage ratio as defined under its revolving credit facility, which allows for other adjustments in the calculation of net debt to EBITDA. Constant currency – Constant currency is a non-GAAP measure utilized to measure performance, excluding the impact of translational and certain transactional foreign currency movements, and is intended to be indicative of results in local currency. As we operate in various foreign countries where the local currency may strengthen or weaken significantly versus the U.S. dollar or other currencies used in operations, we utilize a constant currency measure as an additional metric to evaluate the underlying performance of each business without consideration of foreign currency movements. We present all percentage changes for net sales, underlying COGS, underlying MG&A and underlying income (loss) before income taxes in constant currency and calculate the impact of foreign exchange by translating our current period local currency results (that also include the impact of the comparable prior period currency hedging activities) at the average exchange rates during the respective period throughout the year used to translate the financial statements in the comparable prior year period. The result is the current period results in U.S. dollars, as if foreign exchange rates had not changed from the prior year period. Additionally, we exclude any transactional foreign currency impacts, reported within the other non-operating income (expense), net line item, from our current period results. Article content Our guidance or long-term targets for any of the measures noted above are also non-GAAP financial measures that exclude or otherwise have been adjusted for non-GAAP adjustment items from our U.S. GAAP financial statements. When we provide guidance for any of the various non-GAAP metrics described above, we do not provide reconciliations of the U.S. GAAP measures as we are unable to predict with a reasonable degree of certainty the actual impact of the non-GAAP adjustment items. By their very nature, non-GAAP adjustment items are difficult to anticipate with precision because they are generally associated with unexpected and unplanned events that impact our Company and its financial results. Therefore, we are unable to provide a reconciliation of these measures without unreasonable efforts. Article content Reconciliation by Line Item (In millions, except per share data) (Unaudited) For the Three Months Ended June 30, 2025 Reported (U.S. GAAP) $ (1,918.9 ) $ (693.1 ) $ 554.9 $ 428.7 $ 2.13 Non-GAAP Adjustments (pre-tax) Restructuring — — 8.6 8.6 0.04 (Gains) losses on disposals and other — — 0.6 0.6 — Unrealized mark-to-market (gains) losses (7.0 ) — (7.0 ) (7.0 ) (0.03 ) Other items (1) — (0.1 ) (25.6 ) (25.6 ) (0.13 ) Tax effects of income before income tax non-GAAP adjustments and discrete tax items — — — 6.0 0.03 Adjustment for redeemable noncontrolling interest recorded to the redemption value — — — 1.0 — Underlying (Non-GAAP) $ (1,925.9 ) $ (693.2 ) $ 531.5 $ 412.3 $ 2.05 Article content (In millions, except per share data) (Unaudited) For the Three Months Ended June 30, 2024 Cost of goods sold Marketing, general and administrative expenses Income (loss) before income taxes Net income (loss) attributable to MCBC Net income (loss) attributable to MCBC per diluted share Reported (U.S. GAAP) $ (1,922.4 ) $ (728.5 ) $ 559.9 $ 427.0 $ 2.03 Non-GAAP Adjustments (pre-tax) Restructuring — — (0.2 ) (0.2 ) — (Gains) losses on disposals and other — — 0.1 0.1 — Unrealized mark-to-market (gains) losses (28.8 ) — (28.8 ) (28.8 ) (0.14 ) Other items — 0.4 0.2 0.2 — Tax effects of income before income tax non-GAAP adjustments and discrete tax items — — — 5.9 0.03 Underlying (Non-GAAP) $ (1,951.2 ) $ (728.1 ) $ 531.2 $ 404.2 $ 1.92 Article content (In millions, except per share data) (Unaudited) For the Six Months Ended June 30, 2025 Cost of goods sold Marketing, general and administrative expenses Income (loss) before income taxes Net income (loss) attributable to MCBC Diluted earnings per share Reported (U.S. GAAP) $ (3,372.1 ) $ (1,346.3 ) $ 711.2 $ 549.7 $ 2.71 Non-GAAP adjustments (pre-tax) Restructuring (2) — — 28.0 28.0 0.14 (Gains) losses on disposals and other — — 0.6 0.6 — Unrealized mark-to-market (gains) losses (25.7 ) — (25.7 ) (25.7 ) (0.13 ) Other items (1) — (0.2 ) (51.5 ) (51.5 ) (0.25 ) Tax effects of income before income tax non-GAAP adjustments and discrete tax items — — — 11.9 0.06 Adjustment for redeemable noncontrolling interest recorded to the redemption value — — — 1.0 — Underlying (Non-GAAP) $ (3,397.8 ) $ (1,346.5 ) $ 662.6 $ 514.0 $ 2.54 Article content (In millions, except per share data) (Unaudited) For the Six Months Ended June 30, 2024 Cost of goods sold Marketing, general and administrative expenses Income (loss) before income taxes Net income (loss) attributable to MCBC Diluted earnings per share Reported (U.S. GAAP) $ (3,555.3 ) $ (1,383.1 ) $ 825.3 $ 634.8 $ 2.99 Non-GAAP adjustments (pre-tax) Restructuring — — (1.1 ) (1.1 ) (0.01 ) (Gains) losses on disposals and other — — (5.3 ) (5.3 ) (0.02 ) Unrealized mark-to-market (gains) losses (29.6 ) — (29.6 ) (29.6 ) (0.14 ) Other items — 0.9 0.7 0.7 — Tax effects of income before income tax non-GAAP adjustments and discrete tax items — — — 7.5 0.04 Underlying (Non-GAAP) $ (3,584.9 ) $ (1,382.2 ) $ 790.0 $ 607.0 $ 2.86 Article content (1) During the first quarter of 2025, we made an investment in Fevertree Drinks plc and hold a minority interest. As a result, for the three and six months ended June 30, 2025, we recorded an unrealized fair value adjustment of $25.5 million and $51.2 million, respectively. (2) During the third quarter of 2024, we made the decision to wind down or sell certain U.S. craft businesses and related facilities within the Americas segment. As a result, we recorded employee-related and asset abandonment charges, including accelerated depreciation in excess of normal depreciation of $17.9 million for the six months ended June 30, 2025. Article content Reconciliation to Underlying (Non-GAAP) Income (Loss) Before Income Taxes by Segment (In millions) (Unaudited) For the Three Months Ended June 30, 2025 Americas EMEA&APAC Unallocated Consolidated U.S. GAAP Income (loss) before income taxes $ 538.2 $ 64.8 $ (48.1 ) $ 554.9 Cost of goods sold (1) — — (7.0 ) (7.0 ) Marketing, general & administrative (0.1 ) — — (0.1 ) Other non-GAAP adjustment items (2) (23.9 ) 7.6 — (16.3 ) Total non-GAAP adjustment items $ (24.0 ) $ 7.6 $ (7.0 ) $ (23.4 ) Underlying (Non-GAAP) income (loss) before income taxes $ 514.2 $ 72.4 $ (55.1 ) $ 531.5 Article content (In millions) (Unaudited) For the Three Months Ended June 30, 2024 Americas EMEA&APAC Unallocated Consolidated U.S. GAAP Income (loss) before income taxes $ 487.1 $ 81.2 $ (8.4 ) $ 559.9 Cost of goods sold (1) — — (28.8 ) (28.8 ) Marketing, general & administrative 0.5 0 (0.1 ) — 0.4 Other non-GAAP adjustment items (2) (0.2 ) (0.1 ) — (0.3 ) Total non-GAAP adjustment items $ 0.3 $ (0.2 ) $ (28.8 ) $ (28.7 ) Underlying (Non-GAAP) income (loss) before income taxes $ 487.4 $ 81.0 $ (37.2 ) $ 531.2 Article content (In millions) (Unaudited) For the Six Months Ended June 30, 2025 Americas EMEA&APAC Unallocated Consolidated U.S. GAAP Income (loss) before income taxes $ 747.5 $ 45.6 $ (81.9 ) $ 711.2 Cost of goods sold (1) — — (25.7 ) (25.7 ) Marketing, general & administrative (0.2 ) — — (0.2 ) Other non-GAAP adjustment items (2) (30.3 ) 7.6 — (22.7 ) Total non-GAAP adjustment items $ (30.5 ) $ 7.6 $ (25.7 ) $ (48.6 ) Underlying (Non-GAAP) income (loss) before income taxes $ 717.0 $ 53.2 $ (107.6 ) $ 662.6 Article content (In millions) (Unaudited) For the Six Months Ended June 30, 2024 Americas EMEA&APAC Unallocated Consolidated U.S. GAAP Income (loss) before income taxes $ 807.7 $ 70.2 $ (52.6 ) $ 825.3 Cost of goods sold (1) — — (29.6 ) (29.6 ) Marketing, general & administrative 1.0 (0.1 ) — 0.9 Other non-GAAP adjustment items (2) (0.2 ) (6.4 ) — (6.6 ) Total non-GAAP adjustment items $ 0.8 $ (6.5 ) $ (29.6 ) $ (35.3 ) Underlying (Non-GAAP) income (loss) before income taxes $ 808.5 $ 63.7 $ (82.2 ) $ 790.0 Article content (1) Reflects changes in our mark-to-market positions on our derivative hedges recorded as COGS within Unallocated. As the exposure we are managing is realized, we reclassify the gain or loss to the segment in which the underlying exposure resides, allowing our segments to realize the economic effects of the derivative without the resulting unrealized mark-to-market volatility. (2) See the Reconciliations by Line Item table for further information on our non-GAAP adjustments. Article content Underlying (Non-GAAP) Depreciation and Amortization Reconciliation (In millions) (Unaudited) For the Three Months Ended For the Six Months Ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 U.S. GAAP depreciation and amortization $ 170.1 $ 167.7 $ 350.4 $ 336.7 Accelerated depreciation (1) — — (17.9 ) — Underlying (Non-GAAP) depreciation and amortization $ 170.1 $ 167.7 $ 332.5 $ 336.7 Article content (1) During the third quarter of 2024, we made the decision to wind down or sell certain U.S. craft businesses and related facilities within the Americas segment. As a result, we recorded employee-related and asset abandonment charges, including accelerated depreciation in excess of normal depreciation of $17.9 million for the six months ended June 30, 2025. Article content Effective Tax Rate Reconciliation (Unaudited) For the Three Months Ended June 30, 2025 June 30, 2024 U.S. GAAP Effective Tax Rate 24 % 24 % Tax effect of non-GAAP adjustment items and discrete tax items (1) (1 %) — % Underlying (Non-GAAP) Effective Tax Rate 23 % 24 % Article content (1) Adjustments related to the tax effect of non-GAAP adjustment items, as well as certain discrete tax items excluded from our underlying effective tax rate. Discrete tax items include certain significant tax audit and prior year reserve adjustments, impact of significant tax legislation and tax rate changes and significant non-recurring and period specific tax items. Article content Underlying (Non-GAAP) Free Cash Flow (In millions) (Unaudited) For the Six Months Ended June 30, 2025 June 30, 2024 U.S. GAAP Net Cash Provided by (Used In) Operating Activities $ 627.6 $ 894.6 Additions to property, plant and equipment, net (1) (400.6 ) (392.2 ) Cash impact of non-GAAP adjustment items (2) 66.5 2.6 Underlying (Non-GAAP) Free Cash Flow $ 293.5 $ 505.0 Article content (1) Included in net cash provided by (used in) investing activities. (2) Included in net cash provided by (used in) operating activities and reflects the $60.6 million payment as final resolution of the Keystone litigation case paid during the three months ended March 31, 2025. Additionally, includes costs paid for restructuring activities for the six months ended June 30, 2025 and June 30, 2024. Article content Net Debt and Net Debt to Underlying (Non-GAAP) EBITDA Ratio (In millions except net debt to underlying EBITDA ratio) (Unaudited) As of June 30, 2025 June 30, 2024 U.S. GAAP Current portion of long-term debt and short-term borrowings $ 62.3 $ 894.2 Add: Long-term debt 6,257.0 6,161.5 Less: Cash and cash equivalents 613.8 1,647.3 Net debt $ 5,705.5 $ 5,408.4 Q2 Underlying EBITDA $ 763.9 750.1 Q1 Underlying EBITDA 353.3 476.2 Q4 Underlying EBITDA 558.5 566.1 Q3 Underlying EBITDA 692.3 742.9 Non-GAAP Underlying EBITDA (1) $ 2,368.0 $ 2,535.3 Net debt to underlying (Non-GAAP) EBITDA ratio 2.41 2.13 Article content (1) Represents underlying EBITDA on a trailing twelve month basis. Article content Underlying (Non-GAAP) EBITDA Reconciliation (In millions) (Unaudited) For the Three Months Ended June 30, 2025 June 30, 2024 U.S. GAAP Net income (loss) 424.3 425.3 Interest expense (income), net 58.5 51.2 Income tax expense (benefit) 130.6 134.6 Depreciation and amortization 173.9 167.7 Non-GAAP adjustments to arrive at underlying EBITDA (1) (23.4 ) (28.7 ) Underlying (Non-GAAP) EBITDA $ 763.9 $ 750.1 Article content (1) Includes pre-tax non-GAAP adjustments to Net income (loss) as described in other non-GAAP reconciliation tables above excluding non-GAAP adjustments to interest expense (income), net and depreciation and amortization (including amortization of cloud-based software implementation costs). See the (i) Reconciliations to Nearest U.S. GAAP Measures by Line Item, (ii) Underlying Depreciation and Amortization Reconciliation and (iii) Underlying Net Interest Income (Expense), net Reconciliation tables for further information on our non-GAAP adjustments. Article content Article content Article content Article content View source version on Article content Article content Article content Contacts Article content Investor Relations Article content Article content Traci Mangini, (415) 308-0151 Article content News Media Article content Article content Rachel Gellman Johnson, (314) 452-9673 Article content Article content Article content
Globe and Mail
6 minutes ago
- Globe and Mail
CEO.CA's Inside the Boardroom: Canagold Completes Feasibility, Decade-Long First Nations Partnership to Guide Permitting
Toronto, Ontario--(Newsfile Corp. - August 5, 2025) - (" the leading investor social network in junior resource and venture stocks, shares exclusive updates with CEOs of junior mining explorers. Founded in 2012, a wholly owned subsidiary of EarthLabs, Inc., is one of the most popular free financial websites and apps in Canada and for investors globally - with industry leading audience engagement and mobile functionality. Millions of people visit each year to connect with investors from around the world, share knowledge and view impactful stories about stocks, commodities, and emerging companies. Meet the Executive Shaping the Mining Landscape 'Inside the Boardroom' is more than just an interview series - it's a chance to gain firsthand knowledge from industry leaders, understanding their vision, challenges, and strategy. We caught up with Catalin Kilofliski, CEO of Canagold Resources Ltd. (TSX: CCM) (OTCQB: CRCUF) (FSE: CANA) to look at the feasibility study for the New Polaris project and the path ahead through environmental permitting. The feasibility study represents the final engineering milestone before construction, with industry data showing only two out of every thousand exploration projects reach this stage. With a decade-long relationship with local First Nations already established and cyanide removed from their process based on community feedback, Canagold is now focused on completing environmental permitting while working on three initiatives to enhance project economics: unlocking antimony revenue potential, developing run-of-river hydroelectric power, and exploring resource expansion opportunities. Canagold Resources Ltd. Cannot view this video? Visit: Tune in to 'Inside the Boardroom' each week and be part of the conversation that's shaping the business landscape. Visit or our YouTube page for hundreds more executive interviews from here. Interested in showcasing your company on 'Inside the Boardroom'? Get in touch with our team at sales@ for further details and opportunities. About The leading community for investors & traders in junior resource & venture stocks. is one of the most popular free financial websites and apps in Canada and for small-cap investors globally -- with industry leading audience engagement and mobile functionality. Since 2012, has brought millions of investors together from over 164 countries to discuss their portfolio holdings and find new investment opportunities. Download our App on iOS or Android marketplace or visit us today at to set up your free account. is a wholly owned subsidiary of EarthLabs, Inc. For further information please contact: Email: hello@ Website: Neither the TSX Venture Exchange ("TSXV"), OTC Best Market "(OTCQX") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement The information regarding any issuer contained or referred to in any interviews conducted by has been furnished by such issuer directly, and neither nor any of its affiliates or principals assumes any responsibility for the accuracy or completeness of such information or for any failure by an issuer to ensure disclosure of events or facts which may affect the significance or accuracy of any such information. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release may include, but is not limited to, the objectives, goals, future plans, statements regarding exploration results and exploration and/or development plans of companies featured on the platform. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects, currency risk and the other risks involved in the applicable exploration and development industry, and those risks set out in the public documents of such companies filed on SEDAR or elsewhere from time to time. Undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
CTV News
18 minutes ago
- CTV News
Prime Minister Mark Carney scheduled to visit Kelowna, B.C., Tuesday
Prime Minister Mark Carney listens while touring the Royal Canadian Navy torpedo recovery vessel Sikanni at the Canadian Forces Maritime Experimental and Test Ranges (CFMETR), in Nanoose Bay, B.C., on Monday, August 4, 2025. THE CANADIAN PRESS/Darryl Dyck KELOWNA — Prime Minister Mark Carney is scheduled to be in Kelowna, B.C., for an announcement at a lumber facility on Tuesday after attending the Vancouver Pride parade on the weekend before he toured a Canadian Forces facility on Vancouver Island on Monday. Carney toured the Canadian Forces Maritime Experimental and Test Ranges facility near Nanoose Bay outside Nanaimo with officials from the Canadian Navy. He toured the Royal Canadian Navy vessel Sikanni accompanied by Navy Commander Vice-Admiral Angus Topshee and Commanding Officer Craig Piccolo from the testing facility. Carney on Sunday met with B.C. Premier David Eby and officials from the Vancouver Fraser Port Authority, but the meeting with the premier was closed to reporters. Carney also made a surprise appearance at the Pride parade in downtown Vancouver, where he was greeted with cheers from crowds that lined the parade route. The Prime Minister's visit to the province comes amid renewed tensions in the softwood lumber dispute with the U.S., which has placed anti-dumping duties on softwood lumber products that the B.C. Council of Forest Industries has condemned as 'unjustified and punitive trade actions.' This report by The Canadian Press was first published Aug. 5, 2025.
