Wine and spirit company, Constellation Brands (NYSE: STZ) reported adjusted earnings of $188.7 million or 96 cents a share for the fiscal second quarter compared to a profit of $131 million or 71 cents a share, in the year earlier quarter. Analysts polled by Thomson Reuters had forecasted earnings of 88 cents a share. Revenue more than doubled to $1.46 billion from $698.50 million but fell short of analysts’ consensus estimate of $1.53 billion. Sales were bolstered by the recent acquisition of Groupo Modelo’s U.S. beer business. The Company raised its outlook for the fiscal 2014. Constellation now anticipates earnings to be in the range of $2.80 to $3.10 a share up from its earlier projection of $2.60 to $2.90 a share.
Tag: STZ
Constellation Brands Beats Q4 Earnings Estimate (STZ)
Although Constellation Brands Inc. (NYSE: STZ) reported on Wednesday that its fiscal fourth-quarter profit shrank 21% from year-earlier quarter mainly due to higher taxes and rise in expenses, adjusted earnings edged past street’s estimate as top line growth was bolstered by strong sales of wines and spirits while its recent acquisition also helped driving up the revenue.
Continue reading Constellation Brands Beats Q4 Earnings Estimate (STZ)
Constellation Brands Shares Rise on Q2 Results (STZ)
Shares of Constellation Brands Inc. (NYSE: STZ), a leading premium wine company, are up sharply in trading today following the release of second-quarter financial results.
Continue reading Constellation Brands Shares Rise on Q2 Results (STZ)
Constellation Brands Q1 Profit Drops 3%, Shares Jump on Acquisition News (STZ)
Constellation Brands (NYSE: STZ) reported its fiscal first quarter earnings on Friday. The Company said that its earnings declined 3% against the same period last year owing to higher interest expenses and onetime expenses. However, company’s adjusted earnings were better than Wall Street’s expectations.
Continue reading Constellation Brands Q1 Profit Drops 3%, Shares Jump on Acquisition News (STZ)