Constellation Brands Announces Agreement With Sands Family to Eliminate Class B Common Stock
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Constellation Brands (STZ) Falls Despite Earnings, Revenue Beat - Analysts Weigh In
June 30, 2022 12:42 PM EDTConstellation Brands (NYSE: STZ) reported first-quarter earnings before the bell Thursday.
The company reported earnings of $2.66 per share, $0.13 better than the analyst estimate of $2.53. Revenue also beat expectations, coming in at $2.54 billion versus the consensus estimate of $2.16 billion.
Constellation Brands sees fiscal 2023 earnings per share between $11.20 to $11.50 versus the consensus of $11.06.
Despite an initial rise premarket, shares are down more than 3% at the time of writing.
Wall Street analysts had their say on the report following its release:
"STZ reported a very strong start to the... More
