Molson Coors Brewing Company (TAP) Raising PT To $119 - Stifel
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Molson Coors Brewing (TAP) Tops Q1 EPS by 11c
May 3, 2016 6:49 AM EDTMolson Coors Brewing (NYSE: TAP) reported Q1 EPS of $0.54, $0.11 better than the analyst estimate of $0.43. Revenue for the quarter came in at $657.2 million versus the consensus estimate of $625.87 million.
Worldwide beer volume: 11.6 million hectoliters, increased 1.2%; Coors Light volume increased 3.5% worldwideNet sales: $657.2 million, decreased 6.1% on a reported basis, and increased 0.1% in constant currencyNet sales per HL: $114.32, decreased 8.0%, or decreased 1.9% in constant currencyU.S. GAAP net income from continuing operations attributable to MCBC: $159.3 million ($0.78 per diluted share), increased 101.1%Underlying after-tax income: $110.3 million ($0.54 per diluted share), increased... More