Constellation Brands: largely exceeds expectations.

(CercleFinance.com) - Constellation Brands has reported a 52% leap in Q1 EPS to 2.
34 dollars, on a like-for-like basis, therefore well above the consensus of slightly below 2 dollars.

Again on a like-for-like basis, the US alcoholic beverages group improved its operating margin by 5.3 points to 34.6%, with sales up 3% to just over 1.9 billion dollars.

Considering the strength of the results of its beer operations, Constellation Brands has raised its target FY EPS to between 7.90 dollars and 8.10 dollars, compared to 6.76 dollars the previous year.


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