ROCHESTER, N.Y. (AP) — ROCHESTER, N.Y. (AP) — Constellation Brands Inc. (STZ) on Friday reported fiscal third-quarter profit of $615.9 million.
The Rochester, New York-based company said it had profit of $3.39 per share. Earnings, adjusted for non-recurring gains, came to $3.25 per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.34 per share.
The wine, liquor and beer company posted revenue of $2.64 billion in the period. Its adjusted revenue was $2.46 billion, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $2.54 billion.
Constellation Brands expects full-year earnings in the range of $13.40 to $13.80 per share.
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