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Constellation Brands: Q2 EPS above expectations

( - Constellation Brands has reported Q2 EPS that is down 5% on a comparable basis at 2.
72 dollars (2.91 dollars excluding Canopy), although it beat the consensus by nine cents.

Again on a comparable basis, the US liquor group saw its operating profit inch up 1% to 792 million dollars, on sales that are up 2% at 2.34 billion dollars.

For fiscal year 2019-20 the group has raised its target ranges for EPS (comparable basis) to between nine and 9.20 dollars (against between 8.65 dollars and 8.95 dollars previously), with free cash flow of between 1.3 billion and 1.4 billion dollars (against between 1.2 billion and 1.3 billion dollars previously).

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