Saturday, December 16, 2017
 
 
News: Page (1) of 1 - 01/05/12 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook
Constellation Brands' profit slumps in 3Q
Constellation Brands posts 25 percent drop in profit in 3rd qtr on weaker wine, beer sales
By The Associated Press

ROCHESTER, N.Y. (AP) ' The maker of Robert Mondavi wine and Svedka vodka says its third-quarter profit fell 25 percent on weaker wine and beer sales in North America.

Constellation Brands Inc.'s earnings narrowly missed Wall Street estimates.

The Victor, N.Y.-based company reported net income of $104.8 million, or 52 cents per share, in the September-to-November quarter. That's down from $139.3 million, or 65 cents per share, a year earlier.



Excluding one-time items, Constellation earned 50 cents per share. Wall Street expected 53 cents per share, according to a survey by FactSet.

Its revenue slumped 27 percent to $700.7 million from $966.4 million largely because it sold the bulk of its Australian and British wine business last January.

Its wine and spirits sales in North America fell 4 percent. Beer sales dropped 12 percent.


Page: 1


 
 
 
 
 
 
 
 
 
 
 





Our Privacy Policy --- About The U.S. Daily News - Contact Us - Advertise With Us - Privacy Guidelines