DENVER — Molson Coors Brewing’s third-quarter profit met Wall Street’s view as the beer maker’s sales improved overseas.
The Denver-based company, which makes Miller Light, Coors Light and other beers, earned $280 million, or $1.29 per share, for the period ended Sept. 30. That compares with $318.9 million, or $1.47 per share, a year earlier.
Molson Coors Brewing Co.’s income tax expense rose to $145.3 million from $95.6 million in the prior-year period.
Earnings, adjusted for one-time costs and discontinued operations, were $1.34 per share, which met the expectations of analysts polled by Zacks Investment Research.
Quarterly revenue totaled $3.55 billion. Stripping out excise taxes, revenue fell 2 percent to $2.88 billion as sales weakened in the U.S. Sales climbed in Canada, Europe and the international segment.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TAP at https://www.zacks.com/ap/TAP