US: Constellation issues guidance for Q2 and year-end

By just-drinks.com editorial team | 18 July 2003

The US drinks group, Constellation Brands, has issued guidance for its second-quarter earnings in line with analysts' forecasts but added that it expected to take some charges in the quarter.

The company said it expects earnings per share for the second quarter to come in between 61 cents to 64 cents, with earnings per share for the full fiscal 2004 year in the US$2.46 to US$2.53 range.

But taking into account acquisition costs, restructuring charges and other extraordinary items, Constellation said it is forecasting profits between 24 cents and 27 cents per share for the second quarter, with full-year earnings per share between US$1.90 to US$1.97.

Sectors: Wine

Companies: Constellation