Constellation Brands, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended November 30, 2018. For the quarter, the company reported sales of $2,160.6 million compared to $1,981.7 million a year ago. Net sales were $1,972.6 million compared to $1,801.9 million a year ago. Operating income was $556.5 million compared to $489.6 million a year ago. Income before income taxes was $347.4 million compared to $647 million a year ago. Net income was $312.1 million compared to $496.4 million a year ago. Basic net income per share attributable to the company on class A common stock was $1.62 compared to $2.55 a year ago. Diluted net income per share attributable to the company on Class A common stock was $1.56 compared to $2.45 a year ago. Basic net income per share attributable to the company on class b convertible common stock
was $1.47 compared to $2.32 a year ago. Diluted net income per share attributable to the company on class b convertible common stock
was $1.45 compared to $2.26 a year ago.

For the nine months, the company reported sales of $6,916.3 million compared to $6,390.6 million a year ago. Net sales were $6,318.8 million compared to $5,818.3 million a year ago. Operating income was $1,946.9 million compared to $1,768.0 million a year ago. Income before income taxes was $2,614.8 million compared to $1,753.5 million a year ago. Net income was $2,209.7 million compared to $1,401.5 million a year ago. Basic net income per share attributable to the company on class A common stock was $11.66 compared to $7.22 a year ago. Diluted net income per share attributable to the company on Class A common stock was $11.21 compared to $6.92 a year ago. Basic net income per share attributable to the company on class b convertible common stock was $10.59 compared to $6.55 a year ago. Diluted net income per share attributable to the company on class b convertible common stock was $10.35 compared to $6.40 a year ago.

For the year ending February 28, 2019, the company expects earnings per share to be in the range of $12.95 to $13.05. For fiscal year 2019, the beer business now expects net sales growth to be at the high end of the 9% - 11% range and operating margin to approximate 39%. For the wine and spirits business, the company now expects net sales and operating income to decline low-single digits.