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Constellation Brands fiscal Q2 profit climbs 20.2% YOY

Constellation Brands Inc. said its normalized net income for the fiscal second quarter ended Aug. 31 came to 100 cents per share, compared with the S&P Capital IQ consensus estimate of $1.15 per share.

EPS increased 17.8% year over year from 85 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $199.9 million, a gain of 20.2% from $166.3 million in the year-earlier period.

The normalized profit margin climbed to 12.5% from 11.4% in the year-earlier period.

Total revenue climbed 9.9% on an annual basis to $1.60 billion from $1.46 billion, and total operating expenses climbed 7.8% year over year to $1.19 billion from $1.11 billion.

Reported net income decreased 87.1% on an annual basis to $196.8 million, or 98 cents per share, from $1.52 billion, or $7.74 per share.