Molson Coors [SABMiller (SBMRY), Molson Coors (TAP): JV] reports Q2 results
- Underlying net income, a non-GAAP measure, decreased 3.8 percent to $468.8 million. U.S. GAAP net income was $429.5 million, down 11.8 percent, driven by special items related to the closure of the Eden Brewery, as well as the timing of shipments due to year-over-year calendar shifts.
- IFRS EBITA decreased 3.3 percent to $492.9 million.
- Total net sales decreased 3.5 percent to $2.127 billion. Domestic net revenue per barrel grew 0.7 percent for the quarter as a result of favorable net pricing and positive sales mix. Total company net revenue per barrel, including contract brewing and company-owned distributor sales, increased 0.6 percent for the quarter.
- Third-party contract brewing volumes were down 1.3 percent for the quarter. Domestic net revenue per barrel, excluding contract brewing and company-owned distributor sales, increased 0.7 percent. Domestic sales-to-retail volume (STRs) decreased 1.7 percent. Domestic sales-to-wholesalers volume (STWs) decreased 4.4 percent.