Constellation Brands Beats Estimates, Outlook Below Consensus

Constellation Brands Inc. said Thursday it had net income of $215 million, or $1.06 a share, in the fourth quarter. It did not provide year-earlier figures. Adjusted per-share earnings came to $1.03, above the FactSet consensus of 98 cents. Sales came to $1.36 billion, matching the FactSet consensus. The alcoholic drinks company said its Mexican beer business continued its strong performance in the three-month period. For fiscal 2016, the company expects EPS of $4.55 to $4.75, or $4.70 to $4.90 on an adjusted basis. The current FactSet consensus is for 2016 EPS of $5.46. Shares were not yet active in premarket trade, but have gained 21.3% in the year so far, while the S&P 500 has gained 1.1%.

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