Molson Coors Brewing Co. (TAP) on Wednesday reported third-quarter earnings of $280 million.
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On a per-share basis, the Denver-based company said it had net income of $1.29. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $1.34 per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of $1.34 per share.
The beer maker posted revenue of $3.55 billion in the period. Its adjusted revenue was $2.88 billion.
Molson Coors shares have dropped 17 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 15 percent. The stock has fallen 22 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