UPDATE: Constellation Brands Posts Upbeat FQ2 Earnings

Constellation Brands STZ reported a better-than-expected fiscal second-quarter profit. Constellation posted its quarterly profit at $1.522 billion, or $7.74 per share. Its adjusted earnings came in at $0.96 per share in the quarter. Its net sales came in at $1.46 billion. However, analysts were projecting earnings of $0.88 per share on sales of $1.53 billion. Constellation now projects FY14 adjusted earnings of $2.80 to $3.10 per share. Constellation shares closed at $58.26 yesterday.