Constellation Brands Inc Q3 Profit Increases, beats estimates

(RTTNews) - Constellation Brands Inc (STZ) revealed earnings for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $509.1 million, or $2.76 per share. This compares with $467.7 million, or $2.52 per share, in last year's third quarter.

Excluding items, Constellation Brands Inc reported adjusted earnings of $588.4 million or $3.19 per share for the period.

Analysts on average had expected the company to earn $3.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.2% to $2.47 billion from $2.44 billion last year.

Constellation Brands Inc earnings at a glance (GAAP) :

-Earnings (Q3): $509.1 Mln. vs. $467.7 Mln. last year. -EPS (Q3): $2.76 vs. $2.52 last year. -Analyst Estimate: $3.00 -Revenue (Q3): $2.47 Bln vs. $2.44 Bln last year.

-Guidance: Full year EPS guidance: $12.00 - $12.20