NEW YORK (TheStreet) -- Molson Coors Brewing (TAP) reported better-than-expected earnings, but revenue that fell short of Wall Street's estimates for the 2016 third quarter on Tuesday.

Before today's market open, the Denver-based beer company posted adjusted earnings of $1.03 per diluted share, topping analysts' projections by a penny.

Revenue for the quarter was $947.6 million, below analysts' forecasts of $982.9 million, according to FactSet. Last year, Molson Coors reported revenue of $1.02 billion.

During the period, total worldwide beer volume declined 3.8% year-over-year.

The company's brands include Blue Moon, Coors Light, Keystone Light and Miller Lite.

Shares of Molson Coors closed lower on Monday.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.

The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance.

The team believes its strengths outweigh the fact that the company has had somewhat disappointing return on equity.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: TAP

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