Constellation Brands is reporting profits and sales for its fourth quarter that beat Wall Street estimates.
The Victor-based producer of beer, wine and spirits saw net income rise to just over $925 million, up from $452 million a year ago.
The company’s bottom line was helped by a $363 million dollar gain due to the recently enacted federal tax legislation.
Earnings per share of $4.64 beat estimates as did sales of $1.77 billion, which were up 8 percent.
The company saw a 12% increase in beer sales, while wine and spirits sales rose 8%.