Victor-based Constellation Brands Inc. (STZ.B) reported a fiscal second-quarter loss of $525.2 million, after reporting a profit in the same period a year earlier.
The company booked charges related to a $4 billion investment in a Canadian cannabis company, Canopy Growth — one of the largest marijuana companies in the world.
Constellation said it had a loss of $2.77 per share. Earnings, adjusted for non-recurring costs, came to $2.72 per share. The wine, liquor, and beer company posted revenue of $2.57 billion in the period. Its adjusted revenue was $2.34 billion.
Constellation Brands expects full-year earnings in the range of $9 to $9.20 per share.
This content is brought to you by the FingerLakes1.com Team. Support our mission by visiting www.patreon.com/fl1 or learn how you send us your local content here.