Molson Coors
The Denver-based brewer’s net income fell 21 percent in the first quarter, largely because of higher costs for ingredients and fuel. The results fell just short of Wall Street’s expectations.
Molson Coors earned $82.9 million, or 44 cents a share, in the quarter that ended March 26. That is down from $104.6 million, or 56 cents a share, in the same period last year. After adjusting for special items, the company earned 43 cents a share.
Revenue rose 4 percent to $690.4 million.
Level 3
The company’s first-quarter loss narrowed, though the results were better than expected as revenue and margins in its core communications business improved.
Level 3 has posted quarterly losses for more than two years because of many businesses putting on hold their plans to spend on Internet-networking services.
Level 3 reported a first-quarter loss of $205 million, or 12 cents a share, compared with a prior-year loss of $238 million, or 14 cents a share. Excluding debt-extinguishment charges and tax items, the adjusted loss was 9 cents a share. Revenue grew 2 percent to $929 million.
Analysts polled by Thomson Reuters had most recently forecast a per-share loss of 10 cents.
Comcast
Earnings exceeded estimates for the first quarter, helped by healthy results in its cable operations and its newly acquired NBC Universal business.
Comcast reported net income of $943 million, or 34 cents a share, for the first three months of the year. That’s up 9 percent from $866 million, or 31 cents, a year ago. Revenue rose 32 percent to $12.1 billion.
Excluding costs related to the NBC deal, which closed in January, earnings came to 36 cents a share, beating the 34-cent average expected by analysts polled by FactSet.
Pfizer
Flat first-quarter sales shaved the drugmaker’s revenue forecasts Tuesday as generic competition eats away at key drugs and pressure builds to sell or spin off parts of the company.
Pfizer said its net income was $2.22 billion, or 28 cents a share, up from $2.03 billion, or 25 cents a share, in 2010’s first quarter. Excluding one-time items, income was $4.81 billion, or 60 cents a share.
Revenue was $16.5 billion, down one-half percent from a year ago.
Analysts surveyed by FactSet expected earnings per share of 58 cents.
Archer Daniels Midland
Net income rose 37 percent, thanks to a healthy third quarter for oilseed and corn processing and agricultural services.
ADM posted earnings of $578 million, or 86 cents a share, for the three months ended March 31. That’s up from $421 million, or 65 cents a share, a year earlier. The performance met analysts’ expectations.
