MillerCoors Q3 Profit Drops - Quick Facts

(RTTNews) - SABMiller Plc. (SBMRY.PK, SAB.L) and Molson Coors Brewing Co. (TAP-A, TAP) said third-quarter attributable net income for MillerCoors fell to $316.5 million from $376.5 million in the previous year.

Underlying net income, a non-GAAP measure, decreased 8.6 percent to $344.4 million.

The company attributed the drop to lower volume and increased marketing investment.

Sales dropped to $2.287 billion from $2.374 billion in the prior year. Net sales fell to $2 billion from $2.07 billion.

Total company net revenue per barrel, including contract brewing and company-owned distributor sales, rose 1.1 percent. Third-party contract brewing volumes were down 3.5 percent.

Domestic net revenue per barrel grew 1.2 percent as a result of favorable net pricing and positive sales mix.