EPS (U.S. GAAP) of $1.96 Increased 28.9%, and
Underlying EPS (Non-GAAP) of $1.88 Increased 10.6%, versus prior year
Sequential Improvement to Top and Bottom Line Reflects Benefits from Positive Global Net Pricing, Cost Savings Delivery, Lower Marketing Spend and U.S. Tax Reform,
Despite Worldwide Brand Volumes down 2.4%
Management Remains Committed to Full-Year Free Cash Flow and Cost Savings Targets
DENVER, Colo., and MONTREAL, Quebec – August 1, 2018 – Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) today reported results for the 2018 second quarter. Molson Coors president and chief executive officer Mark Hunter said:
"We were pleased with the sequential improvements in the second quarter for top and bottom line results. Our full year underlying cost savings and free cash flow guidance has not changed, despite ongoing industry demand challenges in the U.S. and Canada and inflationary pressures. While we are aggressively addressing our volume performance in North America, performance in our Europe and International businesses was strong in the quarter.