This Week
  • Architect David Hanlon has worked with some of the area's leading developers.

  • For startup companies, legal and accounting missteps can prove costly.

  • Wilmorite hopes soon to win approval for $425M casino in Seneca County.

  • ID Signsystems Inc. has grown from a local company into an international business.

  • Robert Linton guides Jazz 90.1 through a new era in media.

  • The RBJ 75 supplement presents a list of the 75 largest private-sector employers.

Constellation Brands' 3Q profit rises, beats expectations

Rochester Business Journal
January 9, 2013

Constellation Brands Inc. Wednesday morning reported a year-over-year increase in third-quarter profit and sales, driven, in part, to growth in its beer, wine and spirits portfolio and sales during the holiday season.

The Victor firm posted net income of $110 million, or 58 cents a share, compared with net income of $105 million, or 52 cents a share, last year. On a comparable basis, net income for the most recent quarter was $119 million, or 63 cents a share. Sales were up 9 percent to $767 million, from $701 million a year ago.

The results beat Wall Street predictions. Analysts polled by Thomson Reuters expected Constellation Brands to report earnings per share of 55 cents on sales of $752 million.

“The year is unfolding as we expected and we are on track to meet our financial and strategic goals for the year,” said Robert Sands, Constellation Brands’ president and CEO, in a statement.

The company expects reported full-year earnings per share in the range of $1.97 to $2.07. On a comparable basis, it expects full-year earnings per share of $2.10 to $2.20.

Constellation Brands ranked 14th on the most recent Rochester Business Journal list of manufacturers with 620 local workers. Its shares (NYSE: STZ) midday Wednesday were trading down 69 cents, or roughly 2 percent, at $35.38.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 



What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google