Molson Coors Profit Declines on Acquisition Costs

Molson Coors Brewing Co (NYSE:TAP) reported lower quarterly earnings on Tuesday, hurt by costs related to a recent acquisition.

The maker of Molson Canadian, Coors Light and Blue Moon beers said net income was $105.1 million, or 57 cents per share, in the second quarter, down from $222.8 million, or $1.18 per share, a year earlier.

Net sales rose to $999.4 million from $933.6 million a year earlier.