Molson Coors
Higher prices were not enough to offset weak beer sales and increased costs for fuel and ingredients in the second quarter. The Denver-based brewer reported Tuesday that its net income fell 6 percent, missing analysts’ expectations.
Still, company officials said Molson Coors is performing well despite the larger macroeconomic picture, which includes U.S. economic woes.
Molson Coors reported that it earned $222.8 million, or $1.18 per share, for the period ended June 25. That’s down from $237.2 million, or $1.27 per share, a year ago. Revenue rose 6 percent to $933.6 million.
SM Energy
Second-quarter earnings soared as the Denver-based oil and natural-gas producer saw results lifted by a gain on divestiture activity and an increase in production. Shares surged 9.6 percent to $82.83 as results blew past estimates and the company raised its 2011 production forecast roughly 10 percent. SM, formerly known as St. Mary Land & Exploration Co., posted a profit of $124.5 million, or $1.86 a share, up sharply from $18.1 million, or 28 cents a share, a year earlier.
Pfizer
Generic competition cut deeper into the drugmaker’s sales in the second quarter — with the U.S. patent expiration for its cholesterol fighter Lipitor just five months away. The maker of impotence pill Viagra said its net income was $2.61 billion, or 33 cents per share, up from $2.48 billion, or 31 cents a share, in 2010’s second quarter.
Marathon Oil
Second-quarter profit fell because of unplanned output disruptions as Marathon Petroleum, its former refining unit, reported that its quarterly net income almost doubled.
Excluding its former fuel-making segment, Marathon earned $298 million, or 42 cents a share, from continuing operations.
