Molson Coors Brewing Earnings: MicroBewers are Eating into Sales
Molson Coors Brewing (NYSE:TAP) announced financial results for the first quarter. Molson Coors Brewing Company brews beer through breweries in Canada, the United States and the United Kingdom, but distributes worldwide.
Molson Coors Brewing Earnings Cheat Sheet for the First Quarter
Results: Molson Coors (NYSE:TAP) earned $82.9 million, or 44 cents a share, on the period, down from $104.6 million, or 56 cents a share, in the same quarter a year ago.
Sales: Sales net of excuse taxes rose to $690 million from $661 million, that increase was offset by higher costs and lower volume.
Actual vs. Wall St. Expectations: Analysts had been expecting earnings of 44 cents a share on revenue of $691 million. (FactSet).
Competitors to Watch: Anheuser-Busch InBev (NYSE:BUD), Boston Beer Company (NYSE:SAM), Craft Brewers Alliance (NASDAQ:HOOK), Companhia de Bebidas das Americas (NYSE:ABV), SABMiller plc (PINK:SBMRY), Heineken N.V. (PINK:HINKY), Constellation Brands, Inc. (NYSE:STZ), and Diageo plc (NYSE:DEO).
Stock Performance: Shares of TAP are up 1% but got slaughtered after earnings.