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Molson Coors: 2Q Earnings Snapshot

July 31, 2019

DENVER (AP) — Molson Coors Brewing Co. (TAP) on Wednesday reported second-quarter net income of $329.4 million.

On a per-share basis, the Denver-based company said it had profit of $1.52.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.

The beer maker posted revenue of $3.62 billion in the period. Its adjusted revenue was $2.95 billion, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $3.01 billion.

Molson Coors shares have increased slightly more than 1% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. The stock has dropped 15% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TAP at https://www.zacks.com/ap/TAP

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