Global brewer Molson Coors Brewing Company (TAP Quick QuoteTAP - Free Report) came out with first-quarter 2018 results, wherein adjusted earnings of 48 cents a share fell short of the Zacks Consensus Estimate of 80 cents and plunged 40% year-over-year.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2018 has trended downwards in the past 30 days. In the trailing four quarters (excluding the quarter under review), the company has missed the Zacks Consensus Estimate by an average of 13.2%.

Revenues: Molson Coors generated total revenue of $2,331.5 million that decreased 4.8% year over year and also came below the Zacks Consensus Estimate of $2,436 million.

Key Events: Management now anticipates cost savings of $210 million in 2018.

Zacks Rank: Currently, Molson Coors carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Molson Coors Brewing Company Price, Consensus and EPS Surprise

 

Molson Coors Brewing Company Price, Consensus and EPS Surprise | Molson Coors Brewing Company Quote

Stock Movement: Molson Coors’ shares are down about 2.9% during pre-market trading hours.

Check back later for our full write up on Molson Coors earnings report!

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