Constellation Brands, Inc. (NYSE:STZ) shares are trading slightly lower on Thursday.
The company reported second-quarter adjusted earnings per share of $4.32, beating the analyst consensus of $4.08. Quarterly revenues of $2.92 billion beat the street view of $2.90 billion.
The company reported a loss per share of $6.59, including a non-cash goodwill impairment loss for the Wine and Spirits business of $2.25 billion.
The Beer business achieved solid mid-single-digit net sales growth while sustaining momentum in operating margin expansion, resulting in double-digit operating income growth.
Constellation said in a release that beer business ...
