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Constellation Brands fiscal Q1 profit climbs 176.2% YOY

Constellation Brands Inc. said its normalized net income for the fiscal first quarter ended May 31 came to 99 cents per share, compared with the S&P Capital IQ consensus estimate of 93 cents per share.

EPS rose 168.6% year over year from 37 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $199.2 million, an increase of 176.2% from $72.1 million in the year-earlier period.

The normalized profit margin rose to 13.1% from 10.7% in the year-earlier period.

Total revenue rose 126.6% year over year to $1.53 billion from $673.4 million, and total operating expenses climbed 96.4% from the prior-year period to $1.12 billion from $567.9 million.

Reported net income increased 292.2% year over year to $206.4 million, or $1.03 per share, from $52.6 million, or 27 cents per share.