GOLDEN, Colo. (AP) — GOLDEN, Colo. (AP) — Molson Coors Brewing Co. (TAP) on Tuesday reported a loss of $2.93 billion in its third quarter.
The Golden, Colorado-based company said it had a loss of $14.79 per share. Earnings, adjusted for one-time gains and costs, were $1.67 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.
The beer maker posted revenue of $3.48 billion in the period. Its adjusted revenue was $2.97 billion, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $3.02 billion.
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