UPDATE: Constellation Brands Reports Q1 Net Income of $74.5M

Constellation Brands Inc STZ released its quarterly results on Thursday. STZ reported its Q1 net income at $74.5 million, or $0.35 per share, up from $49.1 million, or $0.22 per share, in the year-earlier period. Excluding items, the company's profit came in at $0.39 per share. STZ's net sales dropped to $635.3 million, from $787.5 million. Analysts were expecting earnings of $0.37 per share on revenue of $649.31 million. STZ shares gained 0.29% to $21.03 in after-hours trading. Read more from Benzinga's Company news.