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Constellation Earnings Rise Sharply on Beer Sales, Forecast

Constellation Brands Inc. (NYSE: STZ) reported fourth-quarter and fiscal 2016 results before markets opened Wednesday. For the quarter, the premium wine and beverage company reported adjusted earnings per share (EPS) of $1.19 on net sales of $1.54 billion. In the same period a year ago, the company reported EPS of $1.03 on revenue of $1.36 billion. Fourth-quarter results also compare to the MarketWatch estimates for EPS of $1.14.

For the full year, Constellation posted EPS of $5.43 and revenues of $6.55 billion, compared with 2015 EPS of $4.44 and revenues of $6.03 billion. The MarketWatch EPS estimate was $5.38.

Constellation estimates full-year 2017 EPS of $6.00 to $6.30. MarketWatch has a full-year estimate of $6.11 per...