Molson Coors Brewing Co. (TAP) on Tuesday reported fourth-quarter net income of $76 million.
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The Denver-based company said it had net income of 35 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 84 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The beer maker posted revenue of $3.02 billion in the period. Its adjusted revenue was $2.42 billion, which missed Street forecasts. Three analysts surveyed by Zacks expected $2.51 billion.
For the year, the company reported profit of $1.12 billion, or $5.15 per share. Revenue was reported as $10.77 billion.
Molson Coors shares have risen 16 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 8 percent. The stock has declined 12 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on TAP at https://www.zacks.com/ap/TAP