Why Molson Coors Stock Inched Higher Today
Expectations weren't high for the brewer's second quarter; happily, it exceeded them.
Overview
Thursday morning, Molson Coors (NYSE: TAP) poured out a quarterly earnings report that was greeted with mild optimism by Mr. Market. Shares of the veteran beer conglomerate rose by slightly over 1% over that day's trading session, in positive contrast to the marginal decline of the benchmark S&P 500 index.
In its second quarter, Molson Coors booked net sales of just under $3.1 billion, for a 3% year-over-year decline. That was on the back of a nearly 5% slide in brand volume, i.e., the amount of beer sold by the company's distributors to retailers.
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Originally published at www.fool.com.
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