Market Overview

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

Share:
Related STZ
5 Weed Stocks To Watch In 2018
Benzinga's Top Upgrades, Downgrades For January 10, 2018
260 Marijuana Stocks: Equal-Weighted Portfolio Up Nearly 7% For The Week Ending January 19, 2018 (Seeking Alpha)

Constellation Brands (NYSE: STZ) 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.

Posted-In: profitEarnings News Guidance

 

Related Articles (STZ)

View Comments and Join the Discussion!