Morning News Leader: Constallation Brands Tops Estimates and Lifts Guidance
Constellation Brands, Inc. (STZ) is up 4.5% Friday morning. The company reported stronger than expected first-quarter earnings of $2.21 per share, versus the consensus $2.07. Constellation posted revenue of $2.097 billion, higher than the $2.07 billion forecast. The company also boosted its full year guidance to a range of $8.65 to $9.95, up from its previous guided range of $8.47 to $8.77.
Constellation Brands, Inc. (STZ) is an alcoholic beverage company.
Progress Software Corporation (PRGS) and CalAmp Corp. (CAMP) top the list of other companies with positive news today, while Apple Inc. (AAPL) and Walgreens Boots Alliance, Inc. (WBA) top the list of companies with negative news.
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About Constellation Brands Inc.
Constellation Brands produces beer, wine, and spirits and is one of the largest multicategory alcoholic beverage suppliers in the U.S. The firm has the exclusive right to import and market several Mexican beer brands in the U.S., including the Corona, Modelo, and Pacifico brand families, and it acquired Ballast Point, a craft beer brand, in 2015. Constellation Brands' wine and spirits portfolio includes the Robert Mondavi, Black Box, and Clos du Bois wine brands and Svedka vodka.