That's down 12% from a year ago on a pro forma basis and 37 cents short of the Thomson First Call estimate. On a pro forma basis, assuming the company had been merged in both periods, Molson Coors posted a 3.8% retail sales drop, a 3.1% sales volume fall and a 49% operating income decline. "For the remainder of the year, we will focus on making even more progress improving our sales trends in Canada and the U.S.," said CEO Leo Kiely. "In the U.K., we are working to restore volume momentum with targeted sales efforts in both the on-premise and off-premise channels while maintaining the strength of our U.K. brand equities. We're also accelerating a number of U.K. cost-reduction initiatives. Across the enterprise, we will continue our work integrating the operations and organization of the combined Molson and Coors business as we build a more competitive and profitable global beer company."