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Constellation Brands $STZ has released its quarterly earnings. Revenue of $2.92B (+2.89% YoY) beats by $19M. EPS of $4.32 (+16.76% YoY) beats by $0.24.
"Constellation cut guidance last month due to deteriorating trends in the wine market, and weeks later, spirits maker Diageo warned that it was facing a tough consumer backdrop" $STZ Modelo Maker Constellation Books $2.25B Impairment from Wine and Spirits https://t.co/Q9uaCnKxLs
🔵 CONSTELLATION BRANDS BEATS QUARTERLY RESULTS ESTIMATES ON STRONG BEER DEMAND (Reuters) - Corona beer maker Constellation Brands beat second-quarter results estimates on Thursday, as robust demand for its popular beer brands helped soften the hit from a slump in its wines and… https://t.co/QJMKLrI8Sl
Constellation Brands Inc. reported its second-quarter fiscal 2025 financial results, exceeding analysts' expectations. The company posted earnings per share (EPS) of $4.32, surpassing the estimated $4.08. Net sales for the quarter were $2.92 billion, also beating the forecasted $2.90 billion. Despite the strong performance, Constellation Brands announced a non-cash goodwill impairment loss of $2.25 billion for its Wine and Spirits business, which underperformed. The company affirmed its fiscal year 2025 EPS guidance of $13.60 to $13.80 and enterprise net sales growth of 4-6%. CEO noted that the macroeconomic backdrop has weighed on demand for beverage alcohol and consumer packaged goods, but the company continued to deliver strong performance.