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Constellation Brands (STZ) Beats on Q1 Earnings & Sales
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Constellation Brands Inc. (STZ - Free Report) , a leading international producer and marketer of beverage alcohol brands, released first-quarter fiscal 2017 results, wherein adjusted earnings of $1.54 a share surpassed the Zacks Consensus Estimate of 1.51. Moreover, the bottom line surged 22% from $1.26 a share earned in the year-ago quarter.
Based on the sustained strength of its beer business, Constellation Brands continues to expect adjusted earnings per share for fiscal 2017 in a band of $6.05–$6.35. However, the company now expects its GAAP earnings to range from $5.98–$6.28 per share, down from $6.00–6.30 per share expected earlier.
Earnings Estimate Revision: The Zacks Consensus fiscal 2017 Estimate has been stable in the last 7 days. Constellation Brands’ performance in the trailing four quarters (including the quarter under review) gives a positive picture. The company outperformed the Zacks Consensus Estimate by an average of nearly 8.9% in the trailing four quarters.
Revenues: Constellation Brands generated net sales of $1,872.0 million that increased 15% year over year and outdid the Zacks Consensus Estimate of $1,827.4 million, mainly driven by solid organic sales growth coupled with contributions from Meiomi and Ballast Point acquisitions.
The company anticipates beer business sales to grow 14%- 17% in fiscal 2017, while wine and spirits business is expected to generate sales growth in mid single-digit range. These estimates include the expected impact from acquisitions.
Key Events: Constellation Brands concluded The Prisoner Wine Company’s buyout and efficiently integrated its operations into its portfolio. Also, the company expanded its current Nava Brewery capacity to 20 million hectares, thus hitting an important milestone.
Zacks Rank: Currently, Constellation Brands carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.
Check back later for our full write up on Constellation Brands’ earnings report!
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Constellation Brands (STZ) Beats on Q1 Earnings & Sales
Constellation Brands Inc. (STZ - Free Report) , a leading international producer and marketer of beverage alcohol brands, released first-quarter fiscal 2017 results, wherein adjusted earnings of $1.54 a share surpassed the Zacks Consensus Estimate of 1.51. Moreover, the bottom line surged 22% from $1.26 a share earned in the year-ago quarter.
Based on the sustained strength of its beer business, Constellation Brands continues to expect adjusted earnings per share for fiscal 2017 in a band of $6.05–$6.35. However, the company now expects its GAAP earnings to range from $5.98–$6.28 per share, down from $6.00–6.30 per share expected earlier.
Earnings Estimate Revision: The Zacks Consensus fiscal 2017 Estimate has been stable in the last 7 days. Constellation Brands’ performance in the trailing four quarters (including the quarter under review) gives a positive picture. The company outperformed the Zacks Consensus Estimate by an average of nearly 8.9% in the trailing four quarters.
CONSTELLATN BRD Price and EPS Surprise
CONSTELLATN BRD Price and EPS Surprise | CONSTELLATN BRD Quote
Revenues: Constellation Brands generated net sales of $1,872.0 million that increased 15% year over year and outdid the Zacks Consensus Estimate of $1,827.4 million, mainly driven by solid organic sales growth coupled with contributions from Meiomi and Ballast Point acquisitions.
The company anticipates beer business sales to grow 14%- 17% in fiscal 2017, while wine and spirits business is expected to generate sales growth in mid single-digit range. These estimates include the expected impact from acquisitions.
Key Events: Constellation Brands concluded The Prisoner Wine Company’s buyout and efficiently integrated its operations into its portfolio. Also, the company expanded its current Nava Brewery capacity to 20 million hectares, thus hitting an important milestone.
Zacks Rank: Currently, Constellation Brands carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.
Check back later for our full write up on Constellation Brands’ earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>