MillerCoors Q1 Profit Rises - Quick Facts

(RTTNews) - MillerCoors LLC, a joint venture between Molson Coors Brewing Co. (TAP, TPX.TO) and SABMiller Plc. (SAB.L, SABMRY.PK), reported Wednesday that its first-quarter net income attributable to the company was $291.2 million, higher than last year's $271.9 million.

First-quarter underlying net income grew 7.4 percent to $291.9 million, driven by positive pricing and sales mix, cost savings, and lower marketing spending, primarily due to timing differences, the company said.

MillerCoors' underlying earnings before interest, taxes and amortization excluding exceptional items or EBITA-Restated was $315.9 million, compared to $284.8 million a year ago.

Sales dropped to $2.050 billion from last year's $2.057 billion. Total net sales increased 0.1 percent to $1.790 billion.

Total company net revenue per barrel, including contract brewing and company-owned distributor sales, increased 3.4 percent. Domestic net revenue per barrel grew 3.3 percent

STW volume in barrels was 14,051, compared to 14,514 a year ago.