Constellation Brands 2Q Net Sales Down More Than 3%, But Beat Consensus Estimate
October 01 2020 - 8:20AM
Dow Jones News
By Allison Prang
Constellation Brands Inc. said net sales dropped more than 3% in
the second quarter, while the company swung to a profit from a
year-earlier loss.
The beverage company said Thursday that net profit for the
second quarter was $512.1 million, or $2.62 a share. In the
year-earlier quarter, Constellation had a net loss of $525.2
million, or $2.77 a share.
Adjusted earnings were $2.76 a share. According to FactSet,
analysts had been expecting $2.51 a share.
Net sales were $2.26 billion, down 3.6% from a year earlier.
Analysts had expected $2.19 billion.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
October 01, 2020 08:05 ET (12:05 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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