02 November, 2023

World: Molson Coors Brewing’s third-quarter profit beats analysts’ estimates

Molson Coors Brewing Company revealed a profit for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $430.7 million, or $1.98 per share. This compares with $216.4 million, or $0.99 per share, in last year's third quarter.

Excluding items, Molson Coors Brewing Company reported adjusted earnings of $418.5 million or $1.92 per share for the period.

Analysts on average had expected the company to earn $1.54 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.2% to $3.30 billion from $2.94 billion last year.

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