Constellation Brands Inc. announced consolidated earnings results for the third quarter and nine months of 2017. For the quarter, the company reported net sales of $1,811 million against $1,811 million a year ago. Operating income was $534 million against $532 million a year ago. EBIT was nil against $559 million a year ago. Net income attributable to the company was $406 million against $403 million a year ago. Earnings per share were $1.98 against $1.96 a year ago. Operating cash flow of $1.42 billion. Free cash flow of $824 million.

For the nine months, the company reported net sales and operating income that will no longer be part of the wine and spirits segment results after the sale of the Canadian wine business totaled $289 million and $45 million, respectively. This compares to $284 million of net sales and $48 million of operating income for nine months fiscal 2016. For fiscal 2016, net sales and operating income for the divested business totaled $365 million and $63 million, respectively.

For the year 2017, the company expects net sales growth of 16% to 17% and operating income growth at the high teens level. Basis EPS of $7.55 to $7.65 and comparable basis EPS of $6.55 to $6.65 primarily reflecting lower tax rate projection. Free cash flow projection of $575 to $675 million.