ADVFN - Advanced Financial Network.
HOME» NYSE » C » STZ Stock Price » STZ Stock News

Constellation Share News

 Constellation Brands Stock Price
STZ Stock Price
 Constellation Brands Stock Chart
STZ Stock Chart
 Constellation Brands Stock News
STZ Stock News
 Constellation Brands Company Information
STZ Company Information
 Constellation Brands Stock Trades
STZ Stock Trades

Constellation Brands 3Q Profit Triples On Fewer Charges

DOW JONES NEWSWIRES Constellation Brands Inc.'s (STZ) fiscal third-quarter profit more than tripled as margins increased and fewer charges hurt the bottom line. The company raised its adjusted earnings-per-share forecast for the year to $1.80 to $1.85 from an earlier estimate of $1.63 to $1.78. The world's biggest winemaker had been hurt by limp consumer spending in bars and restaurants. Costs related to the restructuring of its international businesses in Australia and the U.K. had also pressured the bottom line, though those impacts have waned of late and The Wall Street Journal reported last month the company has agreed to sell those operations to Champ Private Equity in a deal valuing the business at about $290 million. Constellation posted a profit of $139.3 million, or 65 cents a class A share, up from $44.1 million, or 20 cents a class A share, a year earlier. Excluding items such as restructuring, profit increased to 66 cents a share from 54 cents. Net sales, which exclude excise taxes, dropped 2.2% to $966 million on the divestiture of the company's U.K. cider business. Analysts polled by Thomson Reuters most recently predicted a profit of 62 cents on $993 million in revenue. Gross margin increased to 36.4% from 34.8%. North America wine sales, which account for most of the company's revenue, were flat on a constant-currency basis. Europe and Australia wine sales dropped 12%. At Constellation's Crown Imports beer joint venture with Grupo Modelo SAB de CV (GPMCY, GMODELO.MX), sales and operating profit rose 22% and 27%, respectively, on volume growth. Shares of Constellation recently fell 0.4% to $21.50 in premarket trading. The stock has gained 34% the past year. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com

Stock News for Constellation (STZ)
DateTimeHeadline
04/21/201503:28:40Constellation Brands Rating Lowered to Neutral at SunTrust (STZ)
04/17/201517:03:02The 3 Best Beverage Stocks
04/13/201506:29:48Dividends To Lift Your Spirits
04/12/201504:12:04Constellation Brands Is Flying Too High
04/10/201507:47:26Don't Play On Takeover Rumors - Cramer's Mad Money (4/9/15)
04/09/201522:14:03Constellation Brands' (STZ) CEO Rob Sands on Q4 2015 Results...
04/09/201517:08:19U.S. Stocks End Higher
04/09/201516:20:09U.S. Stocks Trade Higher
04/09/201514:31:31U.S. Stocks Trade Little Changed
04/09/201512:14:45U.S. Stocks Fall as Investors Eye Earnings
04/09/201510:39:09Today's Market: Google To Launch Subscription Service, Booze...
04/09/201510:28:57U.S. Stocks Trade Little Changed
04/09/201510:25:00Constellation Brands (STZ) Q4 2015 Results - Earnings Call Webcast
04/09/201509:00:47More on Constellation Brands' FQ4
04/09/201508:50:23Constellation Brands To Pay Out Dividend
04/09/201508:41:22Constellation Brands To Pay Out Dividend -- Update
04/09/201508:27:53Constellation Brands To Pay Out Dividend
04/09/201508:22:16MARKET SNAPSHOT: U.S. Stocks: Futures Waver As Investors Digest...
04/09/201508:19:10Constellation Brands beats by $0.09, misses on revenue
04/09/201507:33:03MARKET SNAPSHOT: U.S. Stocks: Futures Slip As Investors Digest...

Constellation Brands and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad