Constellation Brands’ (NYSE:STZ) earnings for the fourth quarter of 2020 have STZ stock down on Friday. This is after reporting revenue of $1.9 billion, which is just above Wall Street’s estimate of $1.84 billion. Furthermore, the company reported adjusted earnings per share (EPS) of $2.06, while analysts were expecting adjusted per-share earnings of $1.65 for the quarter.
Now let’s see what else is worth mentioning from the most recent Constellation Brands earnings report.
- Revenue for the quarter comes in 5.56% higher compared to $1.8 billion during the same time last year.
- Adjusted EPS was up 11.96% from $1.84 during Q4 2019.
- Operating income of $545.1 million is 17.15% better year-over-year than $465.3 million
- Constellation Brands’ earnings also includes a net income of $409 million.
- That compares to $1.25 billion from the fourth quarter of 2019.
Bill Newlands, president and CEO of Constellation Brands, said this about the STZ stock earnings report:
“Fiscal 20 represented another excellent year of strong results marked by milestones which include the achievement of record cash flow results and double-digit operating income growth for our iconic beer business.”
The Constellation Brands filing does not include guidance for fiscal year 2021. The company stated that it is is unavailable at this time due to potential impacts on the business from the novel coronavirus.
STZ stock was down less than 1% as of Friday afternoon.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.