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Why Constellation Brands Earnings Are Surviving Thursday’s Market Chaos

Thursday’s drop in the broad markets might drive some to get a drink, and in the same vein it seems that this one beer giant has been cashing in big over the most recent quarter. Constellation Brands Inc. (NYSE: STZ) released its fiscal first-quarter financial report before the markets opened on Thursday. The results pushed Constellation Brands to be one of the winners on this bleak trading day.

The company posted $2.34 in earnings per share (EPS) and $2.12 billion in revenue, compared with consensus estimates from Thomson Reuters of $1.98 in EPS and revenue of $1.95 billion. The same period of last year reportedly had EPS of $1.54 and $1.87 billion in revenue.

Overall net sales growth totaled 3%, while organic net sales growth totaled 7%, partially offset by the net impact of the Canadian wine business divestiture less...