January 5, 2018 / 12:51 PM / 16 days ago

BRIEF-Constellation Brands Announces Quarterly Reported Basis EPS Of $2.44

Jan 5 (Reuters) - Constellation Brands Inc:

* SAYS QTRLY REPORTED BASIS EPS OF $2.44

* CONSTELLATION BRANDS QTRLY REPORTED NET SALES $1,799 MILLION, DOWN 1 PCT‍​

* CONSTELLATION BRANDS QTRLY COMPARABLE EPS $2.00

* SAYS INCREASES FISCAL 2018 REPORTED BASIS EPS OUTLOOK TO $8.50 -$8.60 AND COMPARABLE BASIS EPS OUTLOOK TO $8.40 - $8.50

* SAYS BOARD AUTHORIZES NEW $3 BILLION SHARE REPURCHASE PROGRAM; $308 MILLION REMAINING ON EXISTING AUTHORIZATION

* SAYS FOR FISCAL 2018, BEER BUSINESS CONTINUES TO TARGET NET SALES GROWTH IN THE RANGE OF 9 - 11 PERCENT

* CONSTELLATION BRANDS SEES FISCAL 2018 CAPEX $1.175 BILLION - $1.275 BILLION , INCLUDING ABOUT $1.0 BILLION TARGETED FOR MEXICO BEER OPERATIONS EXPANSION ACTIVITIES

* CONSTELLATION BRANDS SEES FOR FISCAL 2018 FOR WINE AND SPIRITS BUSINESS, NET SALES TO DECREASE IN RANGE OF 4 - 6 PERCENT, OPERATING INCOME TO BE FLAT

* SAYS AFFIRMS FISCAL 2018 OPERATING CASH FLOW TARGET OF ABOUT $2.0 BILLION AND FREE CASH FLOW PROJECTION OF $725 - $825 MILLION

* FY2018 EARNINGS PER SHARE VIEW $8.43 -- THOMSON REUTERS I/B/E/S

* Q3 EARNINGS PER SHARE VIEW $1.89, REVENUE VIEW $1.87 BILLION -- THOMSON REUTERS I/B/E/S

* CEO SAYS BELIEVE TAX REFORM LEGISLATION “WILL BE POSITIVE FOR CONSTELLATION GOING FORWARD”

* CONSTELLATION BRANDS - FISCAL 2018 GUIDANCE INCLUDES ASSUMPTIONS OF TAX RATE OF ABOUT 20 PERCENT, WHICH EXCLUDES POTENTIAL IMPACT FROM U.S. TAX REFORM‍​

* CONSTELLATION -INCREASED FY 2018 REPORTED BASIS EPS GUIDANCE REFLECTS $217 MILLION PRETAX UNREALIZED GAIN FAIR VALUE OF CO‘S INVESTMENT IN CANOPY GROWTH

* CONSTELLATION BRANDS - FOR WINE AND SPIRITS BUSINESS, CO NOW EXPECTS RESULTS THAT WILL BE AT LOWER END OF RANGES PROVIDED FOR FISCAL 2018 Source text for Eikon: Further company coverage:

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