Constellation Brands Q4 Profit Tops Estimates; Issues FY22 Guidance

(RTTNews) - Constellation Brands, Inc. (STZ, STZ.B) reported fourth quarter comparable basis earnings per share of $1.82 compared to $2.06, prior year. Excluding Canopy, comparable earnings per share was $1.93, down 11%. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $1.55, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter net income attributable to CBI declined to $382.9 million from $398.4 million, prior year. Earnings per class A common stock was $1.95 compared to $2.04.

Fourth quarter net sales were $1.95 billion, up 3% from previous year. Analysts expected revenue of $1.87 billion, for the quarter.

For fiscal 2022, the company expects reported EPS of $6.90 - $7.20; and comparable basis EPS, excluding Canopy, of $9.95 - $10.25.

On April 7, Constellation's board declared a quarterly dividend of $0.76 per share of class A common stock and $0.69 per share of class B common stock.