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Oct. 6, 2021, 8:08 a.m. EDT

Constellation Brands earnings fall on Canopy Growth losses

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By Steve Gelsi

Constellation Brands Inc. /zigman2/quotes/207737284/composite STZ +0.36% said Wednesday its second-quarter earnings fell to $1.5 million, or a penny a share, from $512.1 million, or $2.62 a share in the year-ago period. Excluding losses from its ownership stake in Canadian cannabis company Canopy Growth /zigman2/quotes/200603886/composite CGC +2.82% /zigman2/quotes/202205609/delayed CA:WEED +2.74% , the wine and spirits company earned $2.52 a share in the latest period. Sales increased to $2.57 billion from $2.46 billion. Analysts expected earnings of $2.79 a share on sales of $2.3 billion, according to a FactSet survey. The company said it expects fiscal 2022 adjusted earnings of $10.15 to $10.45 a share, compared to the analyst projection of $10.05 a share. Constellation Brands shares are down 2.7% this year, compared to a rise of 15.7% by the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.31% .

/zigman2/quotes/207737284/composite
US : U.S.: NYSE
$ 234.68
+0.85 +0.36%
Volume: 851,367
Dec. 8, 2021 4:02p
P/E Ratio
79.29
Dividend Yield
1.30%
Market Cap
$43.99 billion
Rev. per Employee
$926,183
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/zigman2/quotes/200603886/composite
US : U.S.: Nasdaq
$ 10.94
+0.30 +2.82%
Volume: 5.51M
Dec. 8, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.20 billion
Rev. per Employee
$126,876
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/zigman2/quotes/202205609/delayed
CA : Canada: Toronto
$ 13.85
+0.37 +2.74%
Volume: 1.90M
Dec. 8, 2021 5:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$5.31 billion
Rev. per Employee
$167,735
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/zigman2/quotes/210599714/realtime
US : S&P US
4,701.21
+14.46 +0.31%
Volume: 2.16B
Dec. 8, 2021 4:59p
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