Constellation Earnings Boosted By Whiskey

By Jennifer Booton Markets MarketWatch Pulse

Constellation Brands reported stronger fourth-quarter earnings on Thursday, which it attributed to gains in high-end whiskey sales. The wine and spirits seller reported net income of $452 million, or $2.26 a share, compared with $296 million, or $1.48 a share, in the year-earlier period. Sales came in at $1.63 billion, compared with the FactSet consensus estimate of $1.59 billion. The company issued at outlook for fiscal 2018; with earnings per share of $7.65 to $7.95 and comparable-basis EPS of $7.70 to $8.

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