Molson Coors: 3Q Earnings Snapshot
DENVER (AP) _ Molson Coors Brewing Co. (TAP) on Wednesday reported third-quarter net income of $338.3 million.
The Denver-based company said it had profit of $1.56 per share. Earnings, adjusted for non-recurring costs, came to $1.84 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.
Molson Coors: 2Q Earnings Snapshot
DENVER (AP) _ Molson Coors Brewing Co. (TAP) on Wednesday reported second-quarter earnings of $424.1 million.
On a per-share basis, the Denver-based company said it had profit of $1.96. Earnings, adjusted for non-recurring gains, came to $1.88 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.84 per share.
NOT REAL NEWS: Molson Coors is not giving out free beer
Molson Coors Brewing Company says it is not giving away free beer, despite a coupon offer circulating online.
The false offer asks users to fill out a survey to win a free 24-pack of beer. When users complete the survey, it says "Congratulations! You won FREE 24-pack Beer Coupon of Molson!" The scam then asks users to share the link on Facebook and type "Thanks for my beer" in the comments field of the website.
AUSTIN, Texas (AP) — The agency regulating Texas' alcohol industry reversed a judge's advisory decision that it said could have shuttered most of the state's booze business.
Molson Coors brewery labels legal marijuana a ‘risk factor’ in SEC filing
Marijuana legalization in the U.S. and Canada may have a negative impact on the finances of Molson Coors, the brewing company warned in a federal regulatory filing Wednesday.
MillerCoors to build service center
MILWAUKEE (AP) — The parent company of MillerCoors is expanding its Milwaukee footprint with a business service center to support its operations in North America.
Parent Molson Coors Brewing Company says the new center will be located at the Miller Valley Campus on Milwaukee's west side. The center is expected to eventually employ about 150 people who will work in finance and accounting, human resources and procurement.
Molson Coors 3rd-quarter profit meets analysts’ expectations
DENVER (AP) — Molson Coors Brewing's third-quarter profit met Wall Street's view as the beer maker's sales improved overseas.
The Denver-based company, which makes Miller Light, Coors Light and other beers, earned $280 million, or $1.29 per share, for the period ended Sept. 30. That compares with $318.9 million, or $1.47 per share, a year earlier.
Molson Coors Brewing Co.'s income tax expense rose to $145.3 million from $95.6 million in the prior-year period.
MADISON, Wis. (AP) — A Canadian company that owns a brewery in southern Wisconsin has filed a federal lawsuit alleging antitrust violations by two of the world's largest brewing companies.
Mountain Crest says in the suit filed Tuesday that AB InBev of Belgium and Molson Coors Brewing Co. in Denver had an arrangement with the Liquor Control Board of Ontario from 2000 to 2015 that restricted the sale of other U.S. beer in the Canadian province.
Owner of Minhas Craft Brewing in Monroe suing world’s two largest brewing companies
The world's two largest brewing companies conspired to limit other U.S. beer companies from selling their products in Ontario, according to a federal lawsuit filed this week by the owner of Minhas Craft Brewery in Monroe.
Ticker: TAPTax Rate: 12.61%Pre-Tax Income: $410,700,000Income Tax Expense: $51,800,000During World War II, Coors gave half of the beer it brewed to the American military.
Molson Coors 3Q profit surges, absent charges
DENVER (AP) — Molson Coors Brewing Co.'s third-quarter profit surged, absent hefty impairment charges that weighed down the prior-year period.
The beer maker earned $202.5 million, or 94 cents per share, for the three months ended Sept. 30. A year earlier the Denver-based company earned $16.6 million, or 9 cents per share.
The year-ago period included $275 million in impairment charges.
Joe Coors Jr., member of prominent brewing family, dies
GOLDEN, Colo. (AP) — Joe Coors Jr., a member of Colorado's prominent beer brewing family, onetime congressional candidate and prominent executive, has died. He was 74.
Coors died Thursday, his brother, Pete Coors, confirmed in a statement. The cause of death was not released.
"The entire family is deeply saddened by Joe's death," said Pete Coors, vice chairman of Molson Coors Brewing Co.
Brewery to expand in Rockingham County
RICHMOND, Va. (AP) — A major brewery is set for a $60 million expansion in Rockingham County.
Virginia Gov. Terry McAuliffe announced last week that MillerCoors will spend the money expanding its Shenandoah brewery, which serves markets in the Northeast.
MillerCoors will receive a $500,000 grant and be eligible for other incentives for the expansion, which should add 27 new jobs.
Molson Coors 2Q profit falls 25 percent on higher costs
DENVER (AP) — Beer maker Molson Coors Brewing Co. said Tuesday that its second-quarter profit fell nearly 25 percent due to rising costs and an alcohol ban in a part of India.
Denver-based Molson Coors sells Coors Light, Blue Moon and other beers in South America, Europe, Asia and parts of North America. In the U.S., it operates through MillerCoors, a joint venture with beer maker SAB Miller PLC. Molson Coors is in the process of buying SAB Miller's stake in MillerCoors...
- Business WireMolson Coors Brewing Company Announces Regular Quarterly DividendMay 23, 2019
- Business WireRobbins Arroyo LLP: Molson Coors Brewing Company (TAP) Sued for Misleading ShareholdersMay 20, 2019
- Globe NewswireBragar Eagel & Squire, P.C. is Investigating Certain Officers and Directors of Molson Coors Brewing Company (NYSE: TAP) on Behalf of Molson Coors Stockholders and Encourages Molson Coors Investors to Contact the FirmMay 9, 2019
- Business WireScott+Scott Attorneys at Law LLP Investigating Molson Coors Brewing Company for Breach of Fiduciary Duties – TAPApril 17, 2019