Constellation Brands (STZ) Misses Q2 EPS by 4c

Constellation Brands (NYSE: STZ) reported Q2 EPS of $1.11, $0.04 worse than the analyst estimate of $1.15. Revenue for the quarter came in at $1.61 billion versus the consensus estimate of $1.64 billion.

"I am pleased with our results which reflect another quarter of excellent performance from our beer business. This was driven by the outstanding efforts of our wholesalers, retailers and employees in executing our plans in the marketplace during the key summer selling season as we achieved eight percent depletion growth during the quarter. I'm also grateful for the dedication and diligence of this group who acted swiftly and thoroughly during our previously announced recall efforts. Our wine and spirits performance for the quarter was solid," said Rob Sands, president and chief executive officer, Constellation Brands. "While we expect to see some shift in beer sales from the second quarter into the third quarter as a result of the recall, we remain on track to achieve our comparable basis EPS goal for fiscal 2015."

Constellation Brands sees FY2015 EPS of $4.10-$4.25, versus the consensus of $4.25.

For earnings history and earnings-related data on Constellation Brands (STZ) click here.

You May Also Be Interested In

• Growth isn't weak enough to truly undercut inflation pressures - BMO
• TD Cowen Reiterates Buy Rating on Constellation Brands (STZ)
• Safe & Green (SGBX) Provides Update on Audit and Planned 10-K Filing