Constellation Brands Sees Profit Fall in 4Q
08 April 2021 - 10:27PM
Dow Jones News
By Allison Prang
Constellation Brands Inc. saw profit fall in its fourth quarter
but also logged growth in its top line and beer shipment
volume.
The alcoholic beverage company said net income attributable to
the company was $382.9 million, or $1.95 a share, compared to
$398.4 million, or $2.04 a share, a year earlier. The company had
less income in the most recent fourth quarter from unconsolidated
investments compared to a year ago and its provision for income
taxes also rose.
Adjusted earnings were $1.82 a share. Analysts were expecting
$1.58 a share for adjusted earnings, according to FactSet.
Sales rose 2.6% to $1.95 billion. Analysts were expecting $1.86
billion.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
April 08, 2021 08:12 ET (12:12 GMT)
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