(RTTNews) - While reporting financial results for the fourth quarter on Thursday, beverage alcohol company Constellation Brands, Inc. (STZ) initiated its earnings, comparable earnings and net sales guidance for the full-year 2025.
For fiscal 2025, the company now projects earnings in a range of $13.40 to $13.70 per share and comparable earnings in a range of $13.50 to $13.80 per share on enterprise net sales growth of 6 to 7 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $13.44 per share on net sales growth of 6.5 percent to $10.57 billion for the year. Analysts' estimates typically exclude special items.
On Wednesday, Constellation's board declared a 13 percent higher quarterly cash dividend of $1.01 per share of class A common stock, payable on May 17, 2024 to stockholders of record as of close of business on May 3, 2024.
For the fourth quarter, net income attributable to the company grew to $392.4 million or $2.14 per share from $223.0 million or $1.21 per share in the prior-year quarter.
Excluding items, comparable earnings for the quarter were $2.26 per share, compared to $1.98 per share in the year-ago quarter.
Net sales for the quarter increased 7 percent to $2.14 billion from $2.00 billion in the same quarter last year.
The Street was looking for earnings of $2.08 per share on net sales of $2.10 billion for the quarter.
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