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Constellation Brands fiscal Q2 profit climbs 27.4% YOY

Constellation Brands Inc. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to $1.63 per share, compared with the S&P Capital IQ consensus estimate of $1.65 per share.

EPS increased 25.9% year over year from $1.29.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $334.5 million, a gain of 27.4% from $262.5 million in the year-earlier period.

The normalized profit margin climbed to 16.6% from 15.1% in the year-earlier period.

Total revenue climbed 16.6% year over year to $2.02 billion from $1.73 billion, and total operating expenses increased 14.4% year over year to $1.40 billion from $1.22 billion.

Reported net income increased 18.9% year over year to $359.9 million, or $1.75 per share, from $302.6 million, or $1.49 per share.