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Constellation Brands fiscal Q2 profit climbs 31.3% YOY

Constellation Brands Inc. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to $1.29 per share, compared with the S&P Capital IQ consensus estimate of $1.32 per share.

EPS increased 29.8% year over year from 100 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $262.5 million, a gain of 31.3% from $199.9 million in the prior-year period.

The normalized profit margin increased to 15.1% from 12.5% in the year-earlier period.

Total revenue grew 8.1% year over year to $1.73 billion from $1.60 billion, and total operating expenses grew on an annual basis to $1.22 billion from $1.19 billion.

Reported net income rose 53.8% year over year to $302.6 million, or $1.49 per share, from $196.8 million, or 98 cents per share.