ROCHESTER, N.Y. (AP) — ROCHESTER, N.Y. (AP) — Constellation Brands Inc. (STZ) on Wednesday reported fiscal third-quarter net income of $502.8 million.
The Rochester, New York-based company said it had profit of $2.88 per share. Earnings, adjusted for non-recurring costs, came to $3.06 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.65 per share.
The wine, liquor and beer company posted revenue of $2.37 billion in the period. Its adjusted revenue was $2.22 billion, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $2.18 billion.
Constellation Brands expects full-year earnings in the range of $11.30 to $11.60 per share.
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