Molson Coors: 3Q Earnings Snapshot

Molson Coors Brewing Co. (TAP) on Wednesday reported third-quarter net income of $338.3 million.

The Denver-based company said it had profit of $1.56 per share. Earnings, adjusted for non-recurring costs, came to $1.84 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.

The beer maker posted revenue of $3.63 billion in the period. Its adjusted revenue was $2.93 billion, which also topped Street forecasts. Three analysts surveyed by Zacks expected $2.89 billion.

Molson Coors shares have dropped 29 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has declined 26 percent in the last 12 months.

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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