Constellation Brands Q3 Profit Tops Estimates - Quick Facts

(RTTNews) - Constellation Brands (STZ) reported third-quarter comparable earnings per share of $3.09 compared to $2.14, last year. Comparable profit per share excluding Canopy EIE was $3.16 compared to $2.39. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $2.39, for the quarter. Analysts' estimates typically exclude special items.

Third-quarter net sales were $2.44 billion compared to $2.00 billion, a year ago. Analysts expected revenue of $2.23 billion, for the quarter.

For fiscal 2021, the company projects comparable basis EPS excl. Canopy of $9.80-$10.05. Analysts expect the company to report profit per share of $9.44.

The Board declared a quarterly dividend of $0.75 per share of Class A Common Stock and $0.68 per share of Class B Common Stock, payable on February 23, 2021, to stockholders of record as of the close of business on February 9, 2021. The Board also authorized new $2 billion share repurchase program.