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Constellation Brands Raises FY18 Earnings Outlook; Declares Dividend

While reporting its second-quarter financial results today, Constellation Brands Inc. (STZ,STZ-B) raised its earnings outlook for fiscal 2018, citing strong beer business results.

For fiscal 2018, Constellation Brands now forecasts reported basis earnings in a range of $7.90 to $8.05 per share and comparable basis earnings in a range of $8.25 to $8.40 per share. Earlier, the company forecast comparable earnings of $7.90 to $8.10 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $8.18 per share for the year on revenues of $7.62 billion. Analysts' estimates typically exclude special items.

On October 4, 2017, Constellation's board of directors declared a quarterly cash dividend of $0.52 per share of Class A Common Stock and $0.47 per share of Class B Common Stock, payable on November 21, 2017, to stockholders of record as of the close of business on November 7, 2017.

by RTT Staff Writer

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