Constellation Brands: raises forecast on premium wine growth
(CercleFinance.com) - Constellation Brands raised its full-year earnings forecast as strong sales of super-premium wine boosted growth over the past quarter.
The company's net profit in three months ended August 31 more than doubled to 1.15 billion dollars, while its revenue rose by 10% to 2.3 billion dollars.
"The double digit EPS growth we delivered in the second quarter is top-tier for consumer product companies," said Chief Executive Officer Rob Sands.
Constellation raised its full-year earnings forecast to 9.60-9.75 dollars, compared to the 8.70 dollars reported for the previous fiscal year, excluding its recent investment in Canadian marijuana producer Canopy Growth.
Shares of Constellation are currently up 4% in pre-market trading on Thursday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The company's net profit in three months ended August 31 more than doubled to 1.15 billion dollars, while its revenue rose by 10% to 2.3 billion dollars.
"The double digit EPS growth we delivered in the second quarter is top-tier for consumer product companies," said Chief Executive Officer Rob Sands.
Constellation raised its full-year earnings forecast to 9.60-9.75 dollars, compared to the 8.70 dollars reported for the previous fiscal year, excluding its recent investment in Canadian marijuana producer Canopy Growth.
Shares of Constellation are currently up 4% in pre-market trading on Thursday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.