Molson Coors: 2Q Earnings Snapshot
DENVER (AP) _ Molson Coors Brewing Co. (TAP) on Wednesday reported second-quarter earnings of $424.1 million.
On a per-share basis, the Denver-based company said it had profit of $1.96. Earnings, adjusted for non-recurring gains, came to $1.88 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.84 per share.
The beer maker posted revenue of $3.82 billion in the period. Its adjusted revenue was $3.09 billion.
Molson Coors shares have dropped 18 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 5 percent. The stock has dropped 25 percent in the last 12 months.