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Molson Coors Brewing Q3 profit climbs 59.7% YOY

Molson Coors Brewing Co. said its third-quarter normalized net income came to $1.27 per share, compared with the S&P Capital IQ consensus estimate of $1.35 per share.

EPS rose 59.6% year over year from 80 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $275.9 million, an increase of 59.7% from $172.8 million in the year-earlier period.

The normalized profit margin fell to 9.6% from 18.2% in the year-earlier period.

Total revenue rose 204.3% year over year to $2.88 billion from $947.6 million, and total operating expenses rose 193.5% year over year to $2.36 billion from $803.0 million.

Reported net income grew 37.4% from the prior-year period to $279.3 million, or $1.29 per share, from $203.3 million, or 94 cents per share.