Molson Coors Brewing Company Q3 Profit Decreases, misses estimates

(RTTNews) - Molson Coors Brewing Company (TAP-A) revealed earnings for third quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $216.4 million, or $0.99 per share. This compares with $453.0 million, or $2.08 per share, in last year's third quarter.

Excluding items, Molson Coors Brewing Company reported adjusted earnings of $286.8 million or $1.32 per share for the period.

Analysts on average had expected the company to earn $1.36 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.3% to $2.94 billion from $2.82 billion last year.

Molson Coors Brewing Company earnings at a glance (GAAP) :

-Earnings (Q3): $216.4 Mln. vs. $453.0 Mln. last year. -EPS (Q3): $0.99 vs. $2.08 last year. -Analyst Estimates: $1.36 -Revenue (Q3): $2.94 Bln vs. $2.82 Bln last year.