Constellation Brands Inc. (STZ), a leading international producer and marketer of beverage alcohol brands, released solid fourth-quarter fiscal 2015 bottom-line results. The adjusted earnings of $1.03 per share surpassed the Zacks Consensus Estimate of 94 cents, and surged 27% year over year buoyed by its beer business.
Constellation Brands now projects fiscal 2016 adjusted earnings per share between $4.70 and $4.90. On a GAAP basis, management expects earnings in the band of $4.55 to $4.75 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2015 and fiscal 2016 remained unchanged over the past 30 days. In the trailing four quarters (including the quarter under review), the company outperformed the Zacks Consensus Estimate by an average of 7.6%.
Revenues: Constellation Brands generated net sales of $1,356.2 million that increased 5% year over year but fell short of the Zacks Consensus Estimate of $1,359 million primarily.
Key Events: Constellation Brands initiated its dividend program, under which quarterly cash dividend of 31 cents per share on Class A shares and 28 cents per share on Class B shares will be paid on May 22, 2015 to shareholders of record as of May 8, 2015.
Zacks Rank: Currently, Constellation Brands carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Check back later for our full write up on Constellation Brands’ earnings report!
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