Constellation Brands Inc Q3 Profit Misses Estimates

(RTTNews) - Constellation Brands Inc (STZ) reported earnings for third quarter that missed the Street estimates.

The company's earnings totaled $467.7 million, or $2.52 per share. This compares with $470.8 million, or $2.48 per share, in last year's third quarter.

Excluding items, Constellation Brands Inc reported adjusted earnings of $524.7 million or $2.83 per share for the period.

Analysts on average had expected the company to earn $2.89 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.4% to $2.62 billion from $2.51 billion last year.

Constellation Brands Inc earnings at a glance (GAAP) :

-Earnings (Q3): $467.7 Mln. vs. $470.8 Mln. last year. -EPS (Q3): $2.52 vs. $2.48 last year. -Analyst Estimates: $2.89 -Revenue (Q3): $2.62 Bln vs. $2.51 Bln last year.

-Guidance: Full year EPS guidance: $11.00 - $11.20

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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