Constellation Brands, Inc. (NYSE:STZ) stock was up on Thursday following the release of its earnings report for its fiscal fourth quarter of 2018.
During its fiscal fourth quarter of the year, Constellation Brands, Inc. reported earnings per share of $1.90. This is an increase over its earnings per share of $1.48 from the same time last year. It was also a boon to STZ stock by beating out Wall Street’s earnings per share estimate of $1.74 for the period.
Constellation Brands, Inc.’s earnings report for its fiscal fourth quarter of 2018 also includes net income of $928.80 million. This is up from its net income of $461.90 million reported in its fiscal fourth quarter of 2017. STZ notes that it saw a one-time benefit of $363 million during the quarter from recent changes to tax laws in the U.S.
Operating income reported by Constellation Brands, Inc. in its fiscal fourth quarter of the year was $515.70 million. The brewing company reported operating income of $701.80 million in the same quarter of the previous year.
Constellation Brands, Inc.’s revenue for its fiscal fourth quarter of 2018 was $1.94 billion. This is better than its revenue of $1.79 billion from the same period of the year prior. It was also good news for STZ stock by coming in above analysts’ estimate of $1.75 billion for the quarter.
The recent earnings report from Constellation Brands, Inc. also includes its outlook for fiscal 2019. It is expecting earnings per share for the year to range from $9.40 to $9.70. Wall Street is looking for earnings per share of $9.58 for fiscal 2019.
Constellation Brands, Inc. also announced a dividend for shareholders in its most recent earnings report. This includes a dividend of 74 cents per share for Class B stockholders and one of 67 cents per share for Class A shareholders. The dividend will be payable on May 24, 2018 to those on record as of May 10, 2018.
STZ stock was up 2% as of Thursday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
