Constellation Brands: Fiscal Q4 Earnings Snapshot
VICTOR, N.Y. (AP) _ Constellation Brands Inc. (STZ) on Thursday reported fiscal fourth-quarter profit of $395.4 million.
On a per-share basis, the Victor, New York-based company said it had profit of $2.07. Earnings, adjusted for non-recurring costs, came to $2.37 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.15 per share.
The wine, liquor and beer company posted revenue of $2.27 billion in the period. Its adjusted revenue was $2.1 billion, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $2.02 billion.
For the year, the company reported a loss of $40.4 million, or 22 cents per share. Revenue was reported as $8.82 billion.
Constellation Brands expects full-year earnings to be $11.15 to $11.45 per share.