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Molson Coors beats profit estimates on soft demand

  • Molson Coors (TAP +1.4%) says consumer demand was weak across global markets for beer during Q3.
  • The company's U.S. arm MillerCoors (JV w/SBMRY) reported a 1.9% drop in sales to retailers which comes amid higher commodity and brewery costs.
  • Cost-cutting measures, lower interest expenses, and a favorable tax rate helped the brewer beat estimates on its bottom line.
  • (PR)
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