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Molson Coors Brewing profit misses consensus by 21.1% in Q3

Molson Coors Brewing Co. said its third-quarter normalized net income amounted to 80 cents per share, compared with the S&P Capital IQ consensus estimate of $1.01 per share.

EPS fell 15.1% year over year from 94 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $173.1 million, a decline from $175.5 million in the year-earlier period.

The normalized profit margin rose to 18.2% from 17.2% in the year-earlier period.

Total revenue fell 6.9% on an annual basis to $947.6 million from $1.02 billion, and total operating expenses declined 5.7% from the prior-year period to $803.0 million from $851.1 million.

Reported net income increased 1,461.6% on an annual basis to $203.3 million, or 94 cents per share, from $13.0 million, or 7 cents per share.