Molson Coors Brewing Co. (TAP) Tuesday reported fourth-quarter net income attributable to Molson Coors of $222.1 million, up from $93.7 million a year ago. Earnings per share were $1.19, compared with $0.51 in the prior-year quarter.
Underlying after-tax income increased 85.5% in the fourth quarter to $190.3 million, or $1.02 per share, from $102.6 million, or $0.55 per share, a year ago.
Quarterly net sales rose to $820.8 million from $739.2 million in the previous year.
On average, analysts polled by Thomson Reuters expect a profit of $1.10 per share for the quarter on sales of $784.43 million. Analysts' forecast typically excludes one-time items.
"Looking to 2010, we expect volume to remain challenging, especially in the first half, but we are focused on continuing to establish a strong brand base to our business that ensures we not only manage the current market but that we take full advantage of revenue upsides when momentum improves," said Peter Swinburn, Molson Coors president and chief executive officer.
For comments and feedback: editorial@rttnews.com