Filippo Forni

Filippo Forni inquired about beer margin and cost savings, specifically the $65 million realized in Q2 and $105 million year-to-date, asking for the target for the year and more color on future cost-saving opportunities. He also requested an update on tariff headwinds, including amounts realized in the first half and expected for the balance of the year.

Answer

CFO Garth Hankinson highlighted over $500 million in cost savings since Investor Day, with over $100 million year-to-date, driven by supplier/sourcing optimization and material/cost innovation (e.g., 60-foot rail cars). He noted ongoing opportunities in logistics and manufacturing. For tariffs, he specified an expected $70 million impact for beer and $20 million for wine this year, largely tracking volume.

Filippo Forni asked about beer margin and cost savings, specifically the $65 million realized in Q2 and $105 million year-to-date, seeking the full-year target and further opportunities. He also followed up on tariffs, asking about the impact in the first half and expectations for the balance of the year.

Answer

CFO Garth Hankinson highlighted over $500 million in cost savings since Investor Day, with current year savings driven by supplier/sourcing optimization and material/cost innovation, including 60-foot rail cars. He noted ongoing opportunities in logistics and manufacturing, without providing specific annual guidance but promising quarterly updates. For tariffs, he specified an expected $70 million impact on beer and $20 million on wine for the year, largely tracking volume.