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Constellation Brands fiscal Q3 profit climbs 15.6% YOY

Constellation Brands Inc. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, amounted to $1.09 per share, compared with the S&P Capital IQ consensus estimate of $1.14 per share.

EPS climbed 13.8% year over year from 96 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $219.2 million, an increase of 15.6% from $189.6 million in the prior-year period.

The normalized profit margin rose to 14.2% from 13.1% in the year-earlier period.

Total revenue rose 6.8% on an annual basis to $1.54 billion from $1.44 billion, and total operating expenses climbed 5.7% year over year to $1.13 billion from $1.07 billion.

Reported net income rose from the prior-year period to $221.4 million, or $1.10 per share, from $211.9 million, or $1.07 per share.