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Constellation Brands Inc Q3 adjusted earnings Beat Estimates

Constellation Brands Inc (STZ) revealed a profit for third quarter that declined from last year.

The company's profit came in at $303.1 million, or $1.56 per share. This compares with $492.8 million, or $2.45 per share, in last year's third quarter.

Excluding items, Constellation Brands Inc reported adjusted earnings of $461.7 million or $2.37 per share for the period.

Analysts had expected the company to earn $2.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.4% to $1.97 billion from $1.80 billion last year.

Constellation Brands Inc earnings at a glance:

-Earnings (Q3): $461.7 Mln. vs. $404.3 Mln. last year.
-EPS (Q3): $2.37 vs. $2.01 last year.
-Analysts Estimate: $2.06
-Revenue (Q3): $1.97 Bln vs. $1.80 Bln last year.

-Guidance:
Full year EPS guidance: $12.95 - $13.05

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