Molson Coors misses 4Q profit forecasts
DENVER (AP) — Molson Coors Brewing Co. (TAP) on Thursday reported fourth-quarter earnings of $32.8 million.
The Denver-based company said it had net income of 18 cents per share. Earnings, adjusted for one-time gains and costs, came to 49 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The beer maker posted revenue of $844.4 million in the period.
For the year, the company reported profit of $359.5 million, or $1.93 per share. Revenue was reported as $3.57 billion.
Molson Coors shares have declined 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has declined slightly more than 9 percent. The stock has increased 15 percent in the last 12 months.
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 http://www.zacks.com/ap/TAP
Keywords: Molson Coors Brewing, Earnings Report