Plus   Neg

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

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Galaxy Entertainment Group (WYNN) Friday announced that it has agreed to purchase 5.3 million primary shares of Wynn Resorts Ltd. at a price of $175 a share, resulting in $927.50 million of gross proceeds to Wynn Resorts. The two sale, combined with a previous sale effectively eliminate ownership of founder and former CEO Steve Wynn in Wynn Resorts. Starbucks wants to be more efficient but it is risking the fragile loyalty of its most devoted customers. The ubiquitous chain plans a major push to get coffee lovers to use its mobile app to place their orders, but regulars prefer to buy their lattes by waiting in the queue. According to reports,... Taco Bell, the Mexican fast-food chain owned by Yum Brands Inc. (YUM), Thursday said it will start selling tortilla chips in grocery and convenience stores starting May. The chips will be available in Fire and Mild sauce packet flavors and also in a Classic flavor. "This launch of our first line...
comments powered by Disqus
Follow RTT