Constellation Brands Profit, Sales Miss Estimates

Constellation Brands said it had net income of $196 million, or 98 cents a share, in its fiscal second quarter. The maker and distributor of such brands as Robert Mondavi wines, Corona beer and Black Velvet whiskey said adjusted per-share earnings came to $1.11, below the FactSet consensus of $1.15. Sales rose 10% to $1.608 billion, compared with the FactSet consensus of $1.643 billion. The quarter included gains and charges stemming from the various acquisitions. The company said it still expects per-share earnings of $4.10 to $4.25 for fiscal 2015. Shares were down 4.7% in premarket trade. Constellation Brands said earlier it is buying a glass plant in Mexico from Anheuser-Busch .