(RTTNews) - Molson Coors Beverage Company (TAP), a wide range of beverages producer and seller, Tuesday reported it slipped to loss for the third quarter from earnings compared to last year.
The company fell to loss of $2.93 billion from net earnings of $199.8 million the last year.
The company's loss per share was $14.79 from earnings per share $0.96 a year ago.
For the reported period, underlying net income was down by 11.6 percent to $330.8 million, or $1.60 a share, from $374.4 million, or $1.80 a share, the earlier year.
Analysts on average had expected the company to earn $1.7 per share.
Molson's underlying adjusted EBITDA came down to $665.4 million from $692.3 million the prior year.
The company reported net sales of $2.97 billion or 2.3 percent lower than $3.04 billion earlier year. Looking ahead, the company reported guidance for the full year 2025. The company expects net sales (high to low end of range) to decline 3-4% on a constant currency basis. Underlying adjusted earnings per share (high to low end of range) estimated to get lessened 7-10%.
In the pre-market activity, shares are trading 0.49 percent down at $43.01 on the New York Stock Exchange.
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