Molson Coors Brewing Company (TAP) Raising PT To $119 - Stifel
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Molson Coors Reports Higher Worldwide Volume, Gross Margin, Net Income and Underlying After-Tax Income for the First Quarter
May 3, 2016 6:45 AM EDTFirst Quarter 2016 Highlights(1)
Worldwide beer volume: 11.6 million hectoliters, increased 1.2%; Coors Light volume increased 3.5% worldwide Net sales: $657.2 million, decreased 6.1% on a reported basis, and increased 0.1% in constant currency Net sales per HL: $114.32, decreased 8.0%, or decreased 1.9% in constant currency U.S. GAAP net income from continuing operations attributable to MCBC: $159.3 million ($0.78 per diluted share), increased 101.1% Underlying after-tax income: $110.3 million ($0.54 per diluted share), increased 28.1% Underlying EBITDA (earnings before interest, taxes, depreciation and amortization):... MoreMillerCoors Delivers 22.2% First Quarter Underlying Net Income Growth
May 3, 2016 6:30 AM EDTCoors Light and Miller Lite Improve Sales Performance, and Both Deliver Flat Sales to Retail Volume in the Quarter for the First Time in the History of MillerCoors Joint Venture
LONDON & DENVER--(BUSINESS WIRE)-- SABMiller plc (LN:SAB; OTC: SABMRY) and Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) reported that MillerCoors first quarter underlying net income grew 22.2 percent to $372.1 million versus the same period in the prior year. This income growth was driven by lower cost of goods sold, higher net... More
