Net Income

The company reported Q2 net income of $195.8 million, or 98 cents per share, down from $1.52 billion, or $7.74 per share, in the same quarter last year. For the company’s Class B stock, EPS was 90 cents per share, compared to $7.11 per share a year ago.

The company noted that the significant decline in earnings was due to a higher tax rate and a beer recall. In addition, last year’s earnings included a non-cash $1.6 billion gain. Excluding these items, earnings were $222 million, or $1.11 per share, compared to $188.7 million, or 96 cents per share, a year ago. Analysts expected to see adjusted earnings of $1.15 per share.

Revenue
Sales grew 10% to $1.60 billion from $1.46 billion a year ago. Analysts expected to see $1.64 billion in revenue.

Outlook
The company has cut its forecast for FY2015 to an EPS range of $3.85 to $4.00 per share. Previously, the company reported an outlook of $3.90 to $4.25 per share.

With any major earnings release, it is important to examine the mutual funds that have the largest stake in the company. Below are the mutual funds with the largest stake in Constellation Brands.

Mutual fund investors should be aware of the performance of the major holdings in the the funds that they own. Earnings reports, such as today’s release from Constellation Brands, are a great way to measure holdings.