Constellation Brands Earnings: Here’s Why Shares Are Dipping Now
Constellation Brands Inc. (NYSE:STZ) saw its net income decrease, yet revenue climbed in the latest quarterly report unveiled today. Shareholders were not too impressed as shares are down 1.66%.
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Constellation Brands Inc. Earnings Cheat Sheet
Results: Net income increased 4.96% to $110 million (57 cents per diluted share) in the quarter versus a net gain of $104.8 million in the year-earlier quarter.
Revenue: Rose 9.46% to $767 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Constellation Brands Inc. reported adjusted net income of 57 cents per share. By that measure, the company beat the mean analyst estimate of $0.55. It beat the average revenue estimate of $751.83 million.
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