Constellation Brands Maintains FY22 Comparable EPS Outlook; Q1 Results Top Estimates

RTTNews | 1208 dni temu
Constellation Brands Maintains FY22 Comparable EPS Outlook; Q1 Results Top Estimates

(RTTNews) - While reporting financial results for the first quarter of fiscal 2023 on Thursday, beverage alcohol company Constellation Brands, Inc. (STZ) maintained its comparable earnings guidance for the full-year 2023.

For fiscal 2023, the company now projects earnings in a range of $10.50 to $10.80 per share and comparable earnings in a range of $11.20 to $11.50 per share.

Previously, the company expected earnings in the range of $11.15 to $11.45 per share and comparable earnings in the range of $11.20 to $11.50 per share.

On average, 21 analysts polled by Thomson Reuters expect the company to report earnings of $11.06 per share for the year. Analysts' estimates typically exclude special items.

On Wednesday, Constellation's board declared a quarterly cash dividend of $0.80 per share of class A common stock and $0.72 per share of class B common stock, payable on August 24, 2022 to stockholders of record as of close of business on August 10, 2022.

For the first quarter, net income attributable to the company was $389.5 million or $2.06 per share, compared to a net loss of $908.1 million or $4.74 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $2.66 per share, compared to $2.33 per share in the year-ago quarter.

Net sales for the quarter increased to $2.36 billion from $2.03 billion in the same quarter last year.

The Street was looking for earnings of $2.52 per share on net sales of $2.16 billion for the quarter.

read more
Constellation Brands Inks Deal With Sands Family To Eliminate Class B Common Stock

Constellation Brands Inks Deal With Sands Family To Eliminate Class B Common Stock

Beverage alcohol company Constellation Brands (STZ, STZ.B) announced Thursday that following the recommendation of a special committee comprised solely of independent directors, its Board of Directors has approved, and will recommend to shareholders for approval, a proposal to eliminate the company's Class B common stock.
RTTNews | 1208 dni temu
AWS Recovering After Major Outage Hits Companies, Services Worldwide

AWS Recovering After Major Outage Hits Companies, Services Worldwide

Amazon Web Services, following a major outage in its cloud computing service across the world, especiallly the United States, started recovering early Monday. AWS, tech major Amazon's cloud hosting provider, had went offline due to a problem with one of its core database products, affecting millions as it hit the websites and apps of major companies and critical services...
RTTNews | 25 minut temu
Bay Street Likely To Open On Positive Note

Bay Street Likely To Open On Positive Note

Higher U.S. and Canadian futures and rising metal prices point to a positive start on Bay Street Monday morning. The focus will also be on Canadian economic and earnings data.
RTTNews | 1g 31 minut temu
European Stocks Broadly Higher; Defense Stocks Move Up

European Stocks Broadly Higher; Defense Stocks Move Up

European stocks are broadly higher on Monday, led by gains in the defense sector, amid geopolitical tensions. Easing concerns about the health of the US banking sector, and expectations of improved trade relations between China and the U.S. contribute to the positive mood in the markets.
RTTNews | 1g 49 minut temu
FTSE 100 Modestly Higher; Defence Stocks Shine

FTSE 100 Modestly Higher; Defence Stocks Shine

The UK stock market is modestly higher on Monday, supported by gains in shares of defence and financial companies. In addition to tracking the developments on the geopolitical and trade front, investors are also reacting to some corporate news.
RTTNews | 2g 35 minut temu
Sensex, Nifty Close Higher For 4th Straight Session

Sensex, Nifty Close Higher For 4th Straight Session

Indian shares closed higher for a fourth straight session on Monday, as encouraging results from Reliance Industries and several banks helped lift sentiment. Easing concerns about U.S.-China trade tensions contributed as well to the positive show by the market.
RTTNews | 2g 51 minut temu