Investors Are Toasting Constellation Brands Ahead Of The Crown Imports Integration
Investors Are Toasting Constellation Brands Ahead Of The Crown Imports Integration
Oct 7, 2012 6
(SeekingAlpha) - Shares of Constellation Brands (STZ) rose 4.3% in Friday's trading session. The wine company reported its second-quarter results for its fiscal 2013.
Second-Quarter Results
Constellation Brands reported second-quarter revenues of $699 million, up 1% on the year. Revenues came in slightly short of analysts' expectations of $710 million.
Operating income fell 10% to $131 million, while comparable operating income came in at $141 million. Net income fell 23% to $125 million, or $0.67 per share. Comparable net income fell to $131 million, or $0.71 per share. Earnings per share came in ahead of analysts' forecasts of $0.54 per share. CEO Rob Sands commented on the results:
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