Constellation Q3 Beats, Raises Outlook
Posted on January 09, 2013 at 12:30 PM EST
Constellation Brands (STZ) reported third-quarter sales and earnings above estimates. The wine and spirits producer raised its outlook for the second time this fiscal year. The parent of Robert Mondavi wine and Svedka vodka said Q3 EPS jumped 26% to 63 cents, beating expectations by 8 cents. Revenue climbed 10% to $767 million, above expectations of $751.8 million. Shares were down nearly 1% intraday Wednesday. Constellation raised its full-year