Constellation Brands Inc.’s stock slid 0.8% in premarket trade Thursday, after the drinks company’s fourth0-quarter revenue fell short of estimates. The...
Constellation Brands Inc.’s stock STZ slid 0.8% in premarket trade Thursday, after the drinks company’s fourth0-quarter revenue fell short of estimates. The company posted net income of $223 million, or $1.21 a share, for the quarter, down from $395.4 million, or $2.07 a share, in the year-earlier period. Adjusted per-share earnings came to $1.98 to beat the $1.83 FactSet consensus. Sales fell 5% to $1.998 billion, below the $2.016 billion FactSet consensus.
The company posted net income of $223 million, or $1.21 a share, for the quarter, down from $395.4 million, or $2.07 a share, in the year-earlier period. Adjusted per-share earnings came to $1.98 to beat the $1.83 FactSet consensus. Sales fell 5% to $1.998 billion, below the $2.016 billion FactSet consensus. Excluding the losses from its investment in Canadian cannabis company Canopy Growth Corp. CGC , EPS came to $2.15.
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