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Molson Coors Reports 2018 Third Quarter Results

Wednesday, 31 Oct 2018

Oct 31 (Reuters) - Molson Coors Brewing Co ::MOLSON COORS REPORTS 2018 THIRD QUARTER RESULTS.Q3 SALES $2.9 BILLION VERSUS I/B/E/S VIEW $2.92 BILLION.Q3 NON-GAAP EARNINGS PER SHARE $1.84.Q3 GAAP EARNINGS PER SHARE $1.56.Q3 EARNINGS PER SHARE VIEW $1.59 -- THOMSON REUTERS I/B/E/S.INCREASES COST SAVINGS GUIDANCE.REAFFIRMS DIVIDEND EXPECTATIONS."REMAINS COMMITTED TO FULL-YEAR FREE CASH FLOW AND DELEVERAGE TARGETS".MOLSON COORS BREWING - SEES 2018 CAPITAL SPENDING APPROXIMATELY $670 MILLION, PLUS OR MINUS 10 PERCENT..MOLSON COORS BREWING - SEES COST SAVINGS OF ABOUT $700 MILLION FOR 2017 TO 2019..MOLSON COORS BREWING - SEES 2018 UNDERLYING FREE CASH FLOW $1.5 BILLION, PLUS OR MINUS 10 PERCENT.MOLSON COORS BREWING - QTRLY U.S. BUSINESS NET SALES PER HECTOLITER WHICH EXCLUDES CONTRACT BREWING & COMPANY-OWNED-DISTRIBUTOR SALES, UP 1.3 PERCENT.DURING Q3 OF 2018, MCBC RECOGNIZED A NET SPECIAL CHARGE OF $36.6 MILLION.QTRLY WORLDWIDE BRAND VOLUME OF 25.3 MILLION HECTOLITERS DECREASED 1.0 PERCENT.MCBC RECOGNIZED OTHER NON-CORE NET CHARGES OF $35.3 MILLION IN QUARTER.MOLSON COORS BREWING - QTRLY WORLDWIDE BRAND VOLUME DECREASE DRIVEN BY DECLINES IN U.S. & CANADA, PARTIALLY OFFSET BY GROWTH IN EUROPE, INTERNATIONAL.U.S. BUSINESS BRAND VOLUME DECREASED 3.3 PERCENT FOR QUARTER.MOLSON COORS BREWING - IN UNITED STATES BUSINESS, INCREASED DISTRIBUTOR INVENTORY LEVELS AT END OF Q3 ARE EXPECTED TO REMAIN THROUGH END OF YEAR.

Tibet Galaxy Science and Technology Development to dissolve three units

Monday, 1 Jan 2018

Jan 1 (Reuters) - Tibet Galaxy Science and Technology Development Co Ltd <000752.SZ> ::Says it plans to dissolve a beer unit, an infor-industry unit and a bio-tech unit in Tibet.

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