ROCHESTER, N.Y. (AP) — ROCHESTER, N.Y. (AP) — Constellation Brands Inc. (STZ) on Thursday reported a loss of $1.2 billion in its fiscal second quarter.
The Rochester, New York-based company said it had a loss of $6.59 per share. Earnings, adjusted for non-recurring costs, were $4.32 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.11 per share.
The wine, liquor and beer company posted revenue of $3.14 billion in the period. Its adjusted revenue was $2.92 billion, which missed Street forecasts. Seven analysts surveyed by Zacks expected $2.95 billion.
Constellation Brands expects full-year earnings in the range of $13.60 to $13.80 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STZ at https://www.zacks.com/ap/STZ
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