Molson Coors Brewing Company (NYSE:TAP) posts 2Q18 numbers; Tops Estimate

Molson Coors Brewing

Molson Coors Brewing Company (NYSE:TAP) reported net income for the second quarter of $ 424.10 million or $ 1.96 per share, compared to income $ 329.90 million or $ 1.52 per share for the year-ago quarter.

The Denver, Colorado based company recorded second quarter Non-GAAP net income of $ 406.10 million or $ 1.88 per share.

The net sales for second quarter recorded at $ 3.09 billion compared to $ 3.09 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected TAP to report income of $ 1.83 per share on revenue of $ 3.10 billion for the second quarter.

President and chief executive officer Mark Hunter said, Our full year underlying cost savings and free cash flow guidance has not changed, despite ongoing industry demand challenges in the U.S. and Canada and inflationary pressures. While we are aggressively addressing our volume performance in North America, performance in our Europe and International businesses was strong in the quarter.

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