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Molson Coors Brewing profit misses consensus by 19.8% in Q1

Molson Coors Brewing Co. said its normalized net income for the first quarter was 75 cents per share, compared with the S&P Capital IQ consensus estimate of 93 cents per share.

EPS increased 97.5% year over year from 38 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $161.4 million, a gain of 108.4% from $77.5 million in the year-earlier period.

The normalized profit margin dropped to 6.6% from 11.8% in the year-earlier period.

Total revenue climbed 272.6% on an annual basis to $2.45 billion from $657.2 million, and total operating expenses grew 219.3% year over year to $2.08 billion from $650.0 million.

Reported net income grew 22.7% year over year to $201.3 million, or 93 cents per share, from $164.1 million, or 80 cents per share.