ROCHESTER, N.Y. (AP) — ROCHESTER, N.Y. (AP) — Constellation Brands Inc. (STZ) on Wednesday reported a loss of $375.3 million in its fiscal fourth quarter.
On a per-share basis, the Rochester, New York-based company said it had a loss of $2.09. Earnings, adjusted for non-recurring costs, came to $2.63 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.28 per share.
The wine, liquor and beer company posted revenue of $2.31 billion in the period. Its adjusted revenue was $2.16 billion, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $2.13 billion.
For the year, the company reported a loss of $81.4 million, or 45 cents per share. Revenue was reported as $10.21 billion.
Constellation Brands expects full-year earnings in the range of $12.60 to $12.90 per share.
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