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Constellation Brands fiscal Q3 profit climbs 21.7% YOY

Constellation Brands Inc. said its normalized net income for the fiscal third quarter ended Nov. 30, 2015, came to $1.31 per share, compared with the S&P Capital IQ consensus estimate of $1.30 per share.

EPS rose 20.0% year over year from $1.09.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $266.7 million, a gain of 21.7% from $219.2 million in the prior-year period.

The normalized profit margin rose to 16.3% from 14.2% in the year-earlier period.

Total revenue grew 6.4% on an annual basis to $1.64 billion from $1.54 billion, and total operating expenses climbed from the prior-year period to $1.16 billion from $1.13 billion.

Reported net income increased 22.6% on an annual basis to $271.4 million, or $1.33 per share, from $221.4 million, or $1.10 per share.