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BRIEF-REG-Constellation Brands reports second quarter fiscal 2017 results

Oct 5 Constellation Brands Inc

* Increases fiscal 2017 outlook

* Qtrly reported net sales $2,021 million versus $1,733 million last year

* Expects fiscal 2017 reported basis EPS of $6.25 - $6.40 and comparable basis EPS of $6.30 - $6.45

* Constellation Brands Inc qtrly comparable basis EPS of $1.77

* For fiscal 2017, beer business now expects net sales growth of 16 - 17 percent and operating income growth at high teens level

* Affirms fiscal 2017 operating cash flow target of at least $1.5 billion and increases free cash flow projection to $375 - $475 million

* For wine and spirits business, company continues to expect net sales growth in mid single-digit range for fiscal 2017

* Now expecting lower capex for year due to shift in timing of payments related to Nava capital investments

* Q2 earnings per share view $1.65, revenue view $1.96 billion -- Thomson Reuters I/B/E/S

* Constellation brands reports second quarter fiscal 2017 results

* Constellation Brands Inc qtrly reported basis EPS of $1.75

* Constellation Brands Inc qtrly net sales for beer increased 20 percent

* Constellation Brands Inc qtrly wine and spirits net sales increased 12 percent

* Now expects total capital expenditures to be $1.125 - $1.225 billion for fiscal 2017

* Agreement to purchase Utah-based High West Distillery for approximately $160 million

* FY2017 earnings per share view $6.29 -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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