ROCHESTER, N.Y. (AP) — ROCHESTER, N.Y. (AP) — Constellation Brands Inc. (STZ) on Tuesday reported fiscal first-quarter profit of $653.8 million.
On a per-share basis, the Rochester, New York-based company said it had net income of $3.79. Earnings, adjusted for non-recurring gains, came to $3.43 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.22 per share.
The wine, liquor and beer company posted revenue of $2.59 billion in the period. Its adjusted revenue was $2.43 billion, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $2.4 billion.
Constellation Brands expects full-year earnings in the range of $11.20 to $11.90 per share.
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