Constellation Brands Boosts FY22 Comparable EPS Outlook - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Wednesday, beverage alcohol company Constellation Brands, Inc. (STZ) raised its comparable earnings guidance for the full-year 2022.

For fiscal 2022, the company now projects earnings in a range of $2.70 to $3.00 per share and comparable earnings in a range of $10.00 to $10.30 per share.

Previously, the company expected earnings in the range of $6.90 to $7.20 per share and comparable earnings in the range of $9.95 to $10.25 per share.

On average, 21 analysts polled by Thomson Reuters expect the company to report earnings of $10.02 per share for the quarter. Analysts' estimates typically exclude special items.

On Tuesday, Constellation's board declared a quarterly cash dividend of $0.76 per share of class A common stock and $0.69 per share of class B common stock, payable on August 24, 2021 to stockholders of record as of close of business on August 10, 2021.