Constellation Brands Inc. (NYSE:STZ) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.4%.
Constellation Brands Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 31.88% to $0.47 in the quarter versus EPS of $0.69 in the year-earlier quarter.
Revenue: Rose 10.81% to $696 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Constellation Brands Inc. reported adjusted EPS income of $0.47 per share. By that measure, the company beat the mean analyst estimate of $0.45. It beat the average revenue estimate of $666.57 million.
Quoting Management: “This has been an exciting year for Constellation,” said Rob Sands, president and chief executive officer, Constellation Brands. “From an operational perspective, we outperformed the growth of the U.S. wine and spirits industry gaining market share collectively across all channels. For the third consecutive year, Crown achieved share gains as it outperformed the U.S. beer industry and the import category in both on and off premise channels. Additionally, we anticipate achieving a significant milestone by completing the most transformational acquisition in the history of our company, making Constellation the producer and brand owner under a perpetual license of the Modelo portfolio of iconic beer brands in the U.S. including Corona Extra, the best selling imported beer, Corona Light, the leading imported light beer and Modelo Especial, the third largest and one of the fastest growing major imported beer brands.”
Key Stats (on next page)…