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Molson Coors Brewing profit misses consensus by 26.5% in Q3

Molson Coors Brewing Co. said its third-quarter normalized net income amounted to 94 cents per share, compared with the S&P Capital IQ consensus estimate of $1.28 per share.

EPS decreased 15.7% year over year from $1.12.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $175.5 million, a decline of 15.3% from $207.2 million in the year-earlier period.

The normalized profit margin fell to 17.2% from 17.7% in the year-earlier period.

Total revenue declined 12.9% on an annual basis to $1.02 billion from $1.17 billion, and total operating expenses fell 11.0% from the prior-year period to $851.1 million from $956.2 million.

Reported net income totaled $13.0 million, or 7 cents per share, compared with a loss of $37.0 million, or a loss of 20 cents per share, in the prior-year period.