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Earnings Preview: Molson Coors

Molson Coors Brewing Co. is expected to update investors on the global beer market and commodity prices when it reports its second-quarter results before the stock markets open Tuesday.

WHAT TO WATCH FOR: An update on the beer market.

Molson Coors, like most brewers, is struggling with softer beer sales as consumers cope with unemployment and a tough economy. That is particularly pronounced for Molson Coors, whose core customers, men under 28, are seeing particularly high unemployment.

The company, which makes Coors Light, Molson Canadian, Carling, Blue Moon and Keystone Light, reported last quarter that its worldwide beer volume was down 1.5 percent from a year earlier.

The company has benefited from MillerCoors, its joint venture with SABMiller PLC, which sells both companies' brands in the U.S. That unit has tried to encourage sales of some of its higher-priced niche beers.

Molson Coors' troubles are compounded by higher fuel and ingredient costs, which are affecting nearly all consumer product makers.

WHY IT MATTERS: Because the company, based in Denver, is one of the nation's largest brewers, its results highlight issues in the industry and provide insight into consumer trends that fuel the larger economy.

WHAT'S EXPECTED: Analysts expect the company to report adjusted earnings of $1.30 per share on revenue of $958.5 million.

LAST YEAR'S QUARTER: Last year, Molson Coors earned $237.8 million, or $1.27 per share. Excluding one-time items, the company earned $1.25 per share. Molson Coors reported revenue of $888.3 million.

Associated Press

1 Aug. 2011

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