Molson Coors Reports Lower Second Quarter Underlying After-Tax Income and EBITDA, Driven By a Higher Tax Rate and Unfavorable Foreign Currency; Underlying Pretax Earnings in Constant Currency Increase

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Go back to Molson Coors Reports Lower Second Quarter Underlying After-Tax Income and EBITDA, Driven By a Higher Tax Rate and Unfavorable Foreign Currency; Underlying Pretax Earnings in Constant Currency Increase

Molson Coors Brewing (TAP) Tops Q2 EPS by 9c

August 6, 2015 7:31 AM EDT

Molson Coors Brewing (NYSE: TAP) reported Q2 EPS of $1.41, $0.09 better than the analyst estimate of $1.32. Revenue for the quarter came in at $1.01 billion versus the consensus estimate of $1.01 billion.

Molson Coors president and chief executive officer Mark Hunter said, In the 2nd quarter, our underlying pretax earnings on a constant-currency basis increased 5.9 percent, driven by positive net pricing, along with results of cost savings initiatives. Due to a higher tax rate and unfavorable foreign currency, our underlying after-tax income decreased 9.9 percent. We increased gross margins in the U.S., Canada and Europe and... More