HEIO Heineken Holdings

Molson Coors Brewing Co. projected fourth-quarter results mostly below analysts' expectations as the brewer said its performance was hurt by currency impacts along with the loss of the Modelo brands and Heineken brewing contracts in the U.S.

Shares fell 2.6% to $85.50 in recent after-hours trading.

The company also unveiled plans to sell $2.35 billion of shares to raise funds for its deal to buy the rest of the MillerCoors LLC U.S. joint venture in a $12 billion deal that would pave the way for SABMiller PLC to cement its blockbuster sale to Anheuser-Busch InBev NV.

The sale of MillerCoors is necessary for AB InBev to gain U.S. regulatory approval to buy SABMiller. MillerCoors's brands include Miller Lite, Miller High Life and Blue Moon.

For the three-month period ended Dec. 31, the company expects adjusted per-share earnings of 46 cents to 52 cents on net sales of $830 million to $860 million. Analysts polled by Thomson Reuters expected per-share profit of 54 cents and revenue of $850 million.

Molson Coors plans to report its fourth-quarter results Feb. 11.

Write to Tess Stynes at tess.stynes@wsj.com

(END) Dow Jones Newswires

January 26, 2016 18:05 ET (23:05 GMT)

Heineken (EU:HEIO)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

Heineken (EU:HEIO)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024