Molson Coors 4Q Profit Drops On Stronger Dollar

By: Associated Press
By: Associated Press
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DENVER (AP) -- Molson Coors Brewing says its fourth-quarter earnings from continuing operations fell 49 percent, weighed down by a stronger dollar, commodity inflation and lower sales volumes.

The Denver-based brewer says it earned $90.7 million, or 49 cents per share, compared with $176.2 million, or 96 cents per share, in the fourth quarter of the previous year.

Excluding charges related to its MillerCoors joint venture and other items, profit fell to $105.1 million, or 57 cents per share, from $133 million, or 73 cents per share.

Analysts surveyed by Thomson Reuters expected profit of 71 cents per share.

Molson Coors Brewing Co. says adjusted worldwide beer volume slipped 4.2 percent.

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