02 November, 2022

World: Molson Coors’ third-quarter earnings miss analysts’ forecasts

Molson Coors Brewing Company revealed on November 1 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.

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