Constellation Brands, Inc. (NYSE:STZ) early Thursday posted better than expected fiscal fourth quarter earnings results and offered a very bullish forecast for 2018, as its beer sales continue to shine.

Written by StockNews.com

The Victor, NY-based alcoholic beverage giant reported that: 

• Q4 earnings per share (EPS) of $1.48, which was $0.12 better than the Wall Street consensus estimate of $1.36.
• Revenues rose 5.5% from last year to $1.63 billion, also topping analysts’ view for $1.59 billion.
• Net sales for beer increased 11% year-over-year, amid strong organic net sales growth, which was helped by higher volume and better pricing.
• Wine and spirits net sales were flat from last year, hurt by the divestiture of its Canadian wine business.

Looking ahead Constellation:

• forecast full-year fiscal 2018 EPS of $7.70 to $8.00, well above the $7.51 per share that analysts are looking for,
• sees 2018 beer sales growth of 9% to 11%,
• and anticipates wine and spirits sales to decline by 4% to 6%.

 Said Rob Sands, president and chief executive officer, Constellation Brands:

“Fiscal 2017 has been a year marked by operational excellence and record financial performance. We look forward to building on these results to achieve comparable EPS growth that exceeds our target of at least 10% for fiscal 2018, as we continue to build shareholder value.”

...Year-to-date, STZ had gained 5.56% prior to today’s report, versus a 5.49% rise in the benchmark S&P 500 index during the same period.

STZ currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #4 of 25 stocks in the Beverages category.