RTTNews | Jan 6, 2022 08:09AM EST

08:08 Thursday, January 6, 2022 (RTTNews.com) - Constellation Brands, Inc. (STZ) reported third quarter comparable earnings per share of $3.12 compared to $3.09, prior year. This included Canopy equity losses of $0.31, for the quarter. Excluding Canopy equity losses, the company reported comparable basis earnings per share of $3.42, an increase of 8%. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $2.76, for the quarter. Analysts' estimates typically exclude special items.

Net income attributableto CBI declined to $470.8 million or $2.48 per share from $1.28 billion or $6.55 per share, prior year.

Net sales decreased to $2.32 billion from $2.44 billion, last year. Analysts on average had estimated $2.28 billion in revenue.

For the year ending February 28, 2022, the company projects comparable basis, earnings per share, excluding Canopy in a range of $10.50 to $10.65.

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