UPDATE: Constellation Brands Posts 4.5% Rise In Q3 Profit, Lifts FY13 Forecast

Constellation Brands

reported a 4.5% rise in its fiscal third-quarter profit. Constellation Brands lifted its adjusted income forecast for the year to $2.10 to $2.20 per share, versus $2 to $2.10 per share. Constellation Brands' quarterly profit surged to $109.5 million, or $0.58 per Class A share, versus $104.8 million, or $0.52 per share, in the year-earlier period. Excluding special items, the company earned $0.63 per share. Its net sales climbed 9.5% to $766.9 million. However, analysts were expecting earnings of $0.55 per share on sales of $752 million. Its gross margin rose to 40.5% from 40.4%, while input costs climbed 9.2%. Constellation Brands shares gained 3.99% to $37.50 in pre-market trading.