Alexa
  • Directory of Taiwan

Molson Coors net income rises on higher prices

Molson Coors net income rises on higher prices

Molson Coors Brewing Co. says its net income increased by 9 percent in its third quarter on higher prices and cost cutting, even though it sold less beer.
The company has been raising prices in the downturn to protect its brands from being seen as too cheap, even if the amount of beer sold suffers as a result.
The brewer says its net income was $256.1 million, or $1.37 per share, for the three months ended Sept. 25. That's up from $235.3 million, or $1.26 per share, a year ago.
It says revenue excluding excise taxes rose 2.5 percent to $875 million. But beer sales volume fell 4 percent.
Excluding several one-times items, earnings were $1.28 per share. Analysts expected earnings of $1.13 per share on revenue excluding taxes of $877.7 million.


Updated : 2021-05-18 05:20 GMT+08:00