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Molson Coors (TAP) Beats on Q2 Earnings & Revenue Estimates

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Global brewer, Molson Coors Brewing Company (TAP - Free Report) came out with second-quarter 2018 results, wherein adjusted earnings of $1.88 per share outpaced the Zacks Consensus Estimate of $1.84 and improved 10.6% year-over-year.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2018 has been stable 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 12.7%.

Revenues: Molson Coors generated total revenue of $3,085.2 million that dipped 0.2% year over year but came ahead of the Zacks Consensus Estimate of $3,048 million.

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

Zacks Rank: Currently, Molson Coors carries a Zacks Rank #3 (Hold) 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.

Stock Movement: Molson Coors’ shares are down about 1.6% during pre-market trading hours.

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

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