Molson Coors Brewing Company Q1 Profit Increases, beats estimates

(RTTNews) - Molson Coors Brewing Company (TAP-A) announced earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $151.5 million, or $0.70 per share. This compares with $84.1 million, or $0.39 per share, in last year's first quarter.

Excluding items, Molson Coors Brewing Company reported adjusted earnings of $63.8 million or $0.29 per share for the period.

Analysts on average had expected the company to earn $0.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.3% to $2.21 billion from $1.90 billion last year.

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

-Earnings (Q1): $151.5 Mln. vs. $84.1 Mln. last year. -EPS (Q1): $0.70 vs. $0.39 last year. -Analyst Estimate: $0.19 -Revenue (Q1): $2.21 Bln vs. $1.90 Bln last year.