Constellation Brands (NYSE: STZ), the largest beer producer in the U.S, reported third-quarter 2021 earnings results today.
Net sales grew to $2.44 billion from $1.99 billion last year, which shows a 22% increase. Adjusted earnings increased to $3.09 per share from $2.14 per share. Net income, on a reported basis, was $1.28 billion, up from $360.4 million a year earlier. The Beer business posted a significant growth of 12%, despite the covid impact.
The company declared a quarterly cash dividend of $0.75 per share on Class A common stock and $0.68 per share on Class B common stock, which is payable on February 23, 2021.
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Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023. Net income, adjusted