Molson Coors Brewing Company (TAP, TPX.TO) reported that its second-quarter 2014 net income attributable to the company increased to $290.9 million from the prior year's $267.3 million, with earnings per share improving to $1.56 from $1.45 last year.
Underlying after-tax income per share grew to $1.57 from $1.47 in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.46 per share for the quarter. Analysts' estimates typically exclude special items.
Molson Coors Brewing reported a 7.9 percent increase in underlying after-tax income for the second quarter 2014, driven by improved performance from MillerCoors and Europe, along with lower interest expense versus a year ago. Worldwide beer volume decreased 0.9 percent, but net sales increased 0.9 percent in the second quarter of 2014.
Net sales for the quarter was $1.189 billion, up from $1.178 billion in the year ago quarter. Wall Street analysts had a consensus revenue estimate of $1.18 billion for the quarter.
by RTT Staff Writer
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