Jan 5 (Reuters) - Constellation Brands Inc (NYSE:STZ) STZ.N :
* SAYS QTRLY REPORTED BASIS EPS OF $2.44
* CONSTELLATION BRANDS QTRLY REPORTED NET SALES $1,799 MILLION, DOWN 1 PCT
* CONSTELLATION BRANDS QTRLY COMPARABLE EPS $2.00
* SAYS INCREASES FISCAL 2018 REPORTED BASIS EPS OUTLOOK TO $8.50 -$8.60 AND COMPARABLE BASIS EPS OUTLOOK TO $8.40 - $8.50
* SAYS BOARD AUTHORIZES NEW $3 BILLION SHARE REPURCHASE PROGRAM; $308 MILLION REMAINING ON EXISTING AUTHORIZATION
* SAYS FOR FISCAL 2018, BEER BUSINESS CONTINUES TO TARGET NET SALES GROWTH IN THE RANGE OF 9 - 11 PERCENT
* CONSTELLATION BRANDS SEES FISCAL 2018 CAPEX $1.175 BILLION - $1.275 BILLION , INCLUDING ABOUT $1.0 BILLION TARGETED FOR MEXICO BEER OPERATIONS EXPANSION ACTIVITIES
* CONSTELLATION BRANDS SEES FOR FISCAL 2018 FOR WINE AND SPIRITS BUSINESS, NET SALES TO DECREASE IN RANGE OF 4 - 6 PERCENT, OPERATING INCOME TO BE FLAT
* SAYS AFFIRMS FISCAL 2018 OPERATING CASH FLOW TARGET OF ABOUT $2.0 BILLION AND FREE CASH FLOW PROJECTION OF $725 - $825 MILLION
* FY2018 EARNINGS PER SHARE VIEW $8.43 -- THOMSON REUTERS I/B/E/S
* Q3 EARNINGS PER SHARE VIEW $1.89, REVENUE VIEW $1.87 BILLION -- THOMSON REUTERS I/B/E/S
* CEO SAYS BELIEVE TAX REFORM LEGISLATION "WILL BE POSITIVE FOR CONSTELLATION GOING FORWARD"
* CONSTELLATION BRANDS - FISCAL 2018 GUIDANCE INCLUDES ASSUMPTIONS OF TAX RATE OF ABOUT 20 PERCENT, WHICH EXCLUDES POTENTIAL IMPACT FROM U.S. TAX REFORM
* CONSTELLATION -INCREASED FY 2018 REPORTED BASIS EPS GUIDANCE REFLECTS $217 MILLION PRETAX UNREALIZED GAIN FAIR VALUE OF CO'S INVESTMENT IN CANOPY GROWTH
* CONSTELLATION BRANDS - FOR WINE AND SPIRITS BUSINESS, CO NOW EXPECTS RESULTS THAT WILL BE AT LOWER END OF RANGES PROVIDED FOR FISCAL 2018