Constellation Brands reports US$177.9-million loss in first quarter

Bottles of wine produced by Constellation Brands, Inc., are shown at Premier Wine & Spirits in Williamsville, N.Y., Thursday, Dec. 23, 2010. , THE CANADIAN PRESS/AP-David Duprey

The Associated Press

Jul 1, 2020

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VICTOR, N.Y. -- Constellation Brands Inc. on Wednesday reported a loss of US$177.9 million in its fiscal first quarter.

On a per-share basis, the Victor, New York-based company said it had a loss of 94 cents. Earnings, adjusted for non-recurring costs, were US$2.30 per share.

The wine, liquor and beer company posted revenue of US$2.13 billion in the period. Its adjusted revenue was US$1.96 billion.

Constellation Brands shares have fallen 11 per cent since the beginning of the year. The stock has fallen 10 per cent in the last 12 months.