FONT-SIZE Plus   Neg

Molson Coors Brewing Q2 Profit Increases - Quick Facts

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

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
As Sony Corp. prepares to launch the new PlayStation 4 Pro gaming console on November 10, several new games that are compatible with the console have also been confirmed for launch. Game developers are readying to provide PlayStation 4 Pro support for many games on PS4. Shares of Advaxis Inc. dropped more than 13 percent in pre-market activity before paring losses to just more than 5 percent after the company said that it was not able to complete the second stage of the Phase 2 GOG-0265 trial as designed due to a clinical hold that affected its clinical development programs last year. Dicks Sporting Goods Inc., one of the major sporting good retailers in the U.S., is planning to acquire Golfsmith International Holdings Inc., a specialty retailer with stores in U.S. and Canada, through a bankruptcy auction, Reuters reported. The bid would be worth $70 million and needs approval by a U.S. bankruptcy court.
comments powered by Disqus
Follow RTT