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Constellation Brands: Fiscal 3Q Earnings Snapshot

January 7, 2021 GMT

VICTOR, N.Y. (AP) _ Constellation Brands Inc. (STZ) on Thursday reported fiscal third-quarter profit of $1.28 billion.

The Victor, New York-based company said it had profit of $6.55 per share. Earnings, adjusted for non-recurring gains, came to $3.09 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.41 per share.

The wine, liquor and beer company posted revenue of $2.64 billion in the period. Its adjusted revenue was $2.44 billion, also topping Street forecasts. Four analysts surveyed by Zacks expected $2.27 billion.

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Constellation Brands expects full-year earnings in the range of $9.80 to $10.05 per share.

Constellation Brands shares have risen 2% since the beginning of the year, while the Standard & Poor’s 500 index has increased 16%. The stock has climbed 17% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STZ at https://www.zacks.com/ap/STZ