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Constellation Brands (STZ) Beats on Q4 Earnings & Revenues
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Constellation Brands Inc. (STZ - Free Report) , a leading international producer and marketer of beverage alcohol brands, released fourth-quarter fiscal 2018 results, wherein adjusted earnings of $1.90 per share surpassed the Zacks Consensus Estimate of $1.74. Moreover, the bottom line rose 28% from the year-ago quarter.
Constellation Brands now envisions fiscal 2019 adjusted earnings per share in a band of $9.40-$9.70. The Zacks Consensus Estimate is currently pegged higher at $9.71.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2019 has witnessed an uptrend in the last seven days. Moreover, Constellation Brands’ performance in the trailing four quarters (excluding the quarter under review) gives a positive picture. The company has outperformed the Zacks Consensus Estimate by an average of 11.9% in the trailing four quarters.
Constellation Brands Inc Price, Consensus and EPS Surprise
Revenues: Constellation Brands generated net sales of $1,765.9 million that grew 8% year over year and also came ahead of the Zacks Consensus Estimate of $1,757 million. Further, organic sales grew 10%.
The company issued sales guidance for fiscal 2019. Management anticipates beer business sales to grow 9-11%, while sales for the wine and spirits business is expected to improve 2-4%.
Stock Movement: Constellation Brands’ shares are up 7.4% in the pre-market trading hours.
Check back later for our full write up on Constellation Brands’ earnings report!
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Image: Bigstock
Constellation Brands (STZ) Beats on Q4 Earnings & Revenues
Constellation Brands Inc. (STZ - Free Report) , a leading international producer and marketer of beverage alcohol brands, released fourth-quarter fiscal 2018 results, wherein adjusted earnings of $1.90 per share surpassed the Zacks Consensus Estimate of $1.74. Moreover, the bottom line rose 28% from the year-ago quarter.
Constellation Brands now envisions fiscal 2019 adjusted earnings per share in a band of $9.40-$9.70. The Zacks Consensus Estimate is currently pegged higher at $9.71.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2019 has witnessed an uptrend in the last seven days. Moreover, Constellation Brands’ performance in the trailing four quarters (excluding the quarter under review) gives a positive picture. The company has outperformed the Zacks Consensus Estimate by an average of 11.9% in the trailing four quarters.
Constellation Brands Inc Price, Consensus and EPS Surprise
Constellation Brands Inc Price, Consensus and EPS Surprise | Constellation Brands Inc Quote
Revenues: Constellation Brands generated net sales of $1,765.9 million that grew 8% year over year and also came ahead of the Zacks Consensus Estimate of $1,757 million. Further, organic sales grew 10%.
The company issued sales guidance for fiscal 2019. Management anticipates beer business sales to grow 9-11%, while sales for the wine and spirits business is expected to improve 2-4%.
Zacks Rank: Currently, Constellation Brands carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Constellation Brands’ shares are up 7.4% in the pre-market trading hours.
Check back later for our full write up on Constellation Brands’ earnings report!
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Click here to see them >>