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BRIEF-Constellation Brands reports Q1 net sales $1,936 million
June 29, 2017 / 12:03 PM / 3 months ago

BRIEF-Constellation Brands reports Q1 net sales $1,936 million

June 29 (Reuters) - Constellation Brands Inc

* Constellation Brands reports first quarter fiscal 2018 results

* Constellation Brands Inc qtrly net sales for beer increased eight percent

* Constellation Brands Inc - Qtrly reported basis EPS of $2.00 and comparable basis EPS of $2.34

* Constellation Brands Inc qtrly wine and spirits net sales decreased four percent

* Constellation Brands Inc - Affirms fiscal 2018 operating cash flow target of approximately $2.0 billion and free cash flow projection of $725 - $825 million

* Constellation Brands Inc - Updates fiscal 2018 reported basis EPS outlook to $7.55 - $7.75

* Constellation Brands Inc - Increases fiscal 2018 comparable basis EPS outlook to $7.90 - $8.10

* Constellation brands inc sees fiscal 2018 free cash flow approximately $725 - $825 million

* Constellation Brands Inc qtrly net sales $1,936 million, up 3 percent on reported basis

* Constellation Brands Inc sees full-year fiscal 2018 guidance capital expenditures approximately $1.175 billion - $1.275 billion

* Constellation Brands Inc sees for fiscal 2018, beer business continues to target net sales growth in range of 9 - 11 percent

* Q1 earnings per share view $1.98, revenue view $1.95 billion -- Thomson Reuters I/B/E/S

* FY2018 earnings per share view $7.94, revenue view $7.65 billion -- Thomson Reuters I/B/E/S

* Constellation Brands Inc - For fiscal 2018, beer business to target operating income growth in range of 13 - 15 percent

* Constellation Brands -For wine and spirits business, continues to expect net sales to decrease in range of 4 - 6 percent and operating income to be flat for 2018 Source text for Eikon: Further company coverage:

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