Constellation Brands earnings for the company’s fiscal fourth quarter of 2019 have STZ stock up today.
Constellation Brands (NYSE:STZ) reported earnings per share of $1.84 for its fiscal fourth quarter of the year. This is a drop from its earnings per share of $1.90 from the same time last year. However, it was a boon to STZZ stock by beating out Wall Street’s earnings per share estimate of $1.72 for the quarter.
Net income reported in the Constellation Brands earnings report for its fiscal fourth quarter of 2019 comes in at $1.24 billion. This is up from the company’s net income of $910.50 million reported in its fiscal fourth quarter of 2018.
The Constellation Brands earnings report for its fiscal fourth quarter of the year also includes operating income of $465.30 million. The alcohol maker also reported operating income of $511.80 million in the same period of the year prior.
Revenue reported in the most recent Constellation Brands earnings report is $1.78 billion. This is better than the company’s revenue of $1.76 billion from its fiscal fourth quarter in the previous year. It was also good news for STZ stock by coming in above analysts’ revenue estimate of $1.73 billion for the period.
Constellation Brands notes that its beer business was behind $1.09 billion of revenue in its fiscal fourth quarter of 2019. This makes sense as the company is looking to move away from wine and is selling some of the business.
STZ stock was up 3% as of Thursday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.