E-Malt.com News article: 790

Credit Suisse First Boston beverage analyst Andrew Conway trimmed his earnings view on Adolph Coors Co and cut volume forecasts on Coors and top brewer Anheuser-Busch Cos Inc. after talks with wholesaler contacts showed sluggish U.S. results, due in part to harsh weather on the East Coast, Reuters reported.

For Coors, which runs the No. 3 U.S. brewer behind Anheuser-Busch and SABMiller Plc's SAB.L Miller Brewing Co., Conway cut his first-quarter earnings estimate by a penny per share to 33 cents per share due to sluggish volume.

Analysts' per share estimates for the quarter range from 15 cents to 62 cents with a mean target of 35 cents, according to research firm Thomson First Call. Conway cut his first-quarter U.S. volume shipment forecast for Coors to a decline of 1% to 2% from a previous expectation of flat volume.


20 March, 2003