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Constellation Brands fiscal Q3 profit climbs 14.0% YOY

Constellation Brands Inc. said its normalized net income for the fiscal third quarter ended Nov. 30, 2016, was $1.48 per share, compared with the S&P Capital IQ consensus estimate of $1.72 per share.

EPS climbed 13.3% year over year from $1.31.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $304.1 million, a gain of 14.0% from $266.7 million in the year-earlier period.

The normalized profit margin increased to 16.8% from 16.3% in the year-earlier period.

Total revenue rose 10.4% year over year to $1.81 billion from $1.64 billion, and total operating expenses rose 9.3% from the prior-year period to $1.27 billion from $1.16 billion.

Reported net income rose 49.9% year over year to $406.8 million, or $1.98 per share, from $271.4 million, or $1.33 per share.