Molson Coors Beverage Company Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Molson Coors Beverage Company (TAP-A) reported a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $199.8 million, or $0.96 per share. This compares with $430.7 million, or $1.98 per share, in last year's third quarter.

Excluding items, Molson Coors Beverage Company reported adjusted earnings of $374.4 million or $1.80 per share for the period.

Analysts on average had expected the company to earn $1.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.7% to $3.043 billion from $3.298 billion last year.

Molson Coors Beverage Company earnings at a glance (GAAP) :

-Earnings (Q3): $199.8 Mln. vs. $430.7 Mln. last year. -EPS (Q3): $0.96 vs. $1.98 last year. -Revenue (Q3): $3.043 Bln vs. $3.298 Bln last year.