* First-quarter adjusted earnings/share $0.30 vs est $0.34
* First-quarter sales $828.5 mln vs estimate $854.2 mln
May 7 Molson Coors Brewing Co, the maker
of Carling, Blue Moon and Coors Light beers, reported
weaker-than-expected quarterly results, citing "poor weather"
that cut beer consumption.
The company said its first-quarter profit was hurt by higher
raw material costs, marketing spend and expenses related to the
2012 acquisition of StarBev, the central European brewer known
for its Staropramen beer, hurt profit.
First-quarter profit attributable to the company fell to
$35.6 million, or 20 cents per share, from $79.5 million, or 44
cents per share, a year earlier.
Excluding items, the company earned 30 cents per share.
Revenue rose 19.8 percent to $828.5 million as Molson Coors
sold 20.3 percent more beer.
Analysts on average expected the company to earn 34 cents
per share on revenue of $854.2 million, according to Thomson
MillerCoors, which combines the U.S. operations of SABMiller
and Molson Coors Brewing and sells brands such as Miller
Lite and Coors Light, reported a 1.24 percent fall in
first-quarter income as beer volumes declined and costs rose.
Molson Coors shares, which have risen by a fifth in the past
year, closed at $50.97 on the New York Stock Exchange on the