WASHINGTON (dpa-AFX) - Constellation Brands, Inc. (STZ) reported that its fourth quarter net income to CBI declined to $223.0 million from $395.4 million, prior year. Earnings per class A common stock was $1.21 compared to $2.07.
Comparable EPS was $1.98 compared to $2.37, prior year. Comparable EPS, excluding Canopy EIE, was $2.15 compared to $2.55.
On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $1.82, for the quarter. Analysts' estimates typically exclude special items.
Consolidated net sales were $2.00 billion, down 5% from prior year. Analysts on average had estimated $2.02 billion in revenue. Consolidated organic net sales declined 4% from last year.
For fiscal 2024, the company expects comparable EPS, excluding Canopy EIE, in a range of $11.70 - $12.00. Reported earnings per share is estimated in a range of $11.60 - $11.90.
On April 5, Constellation's board declared a quarterly dividend of $0.89 per share of Class A common stock, payable on May 18, 2023, to stockholders of record as of the close of business on May 4, 2023.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2023 AFX News
