Molson Coors: 1Q Earnings Snapshot

DENVER (AP) _ Molson Coors Brewing Co. (TAP) on Wednesday reported first-quarter net income of $151.4 million.

On a per-share basis, the Denver-based company said it had net income of 70 cents. Earnings, adjusted for non-recurring gains, were 52 cents per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The beer maker posted revenue of $2.8 billion in the period. Its adjusted revenue was $2.3 billion, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $2.32 billion.

Molson Coors shares have risen 14% since the beginning of the year, while the Standard & Poor's 500 index has risen 18%. The stock has declined roughly 10% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TAP at https://www.zacks.com/ap/TAP