Summary Box: Molson Coors 1Q

AP News
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Posted: May 03, 2011 1:47 PM
Summary Box: Molson Coors 1Q

BOTTOM LINE: Molson Coors Brewing Co.'s first-quarter net income fell 21 percent to $82.9 million, or 44 cents per share. The decline was a result of rising costs for ingredients and shipping.

HIGHER PRICES: Revenue rose 4 percent to $690.4 million because of increased prices and more drinkers trading up to higher-priced brews.

EXPECTATIONS: Adjusted earnings were 43 cents per share. Analysts polled by FactSet anticipated 44 cents per share on revenue of $690.5 million.