Beverage Alcohol Company Constellation Brands' Q2: Earnings Beat, 8.7% Beer Shipments Growth & More
Portfolio Pulse from Shivani Kumaresan
Constellation Brands Inc (NYSE:STZ) reported Q2 FY24 net sales growth of 7% YoY to $2.84 billion, beating the analyst consensus estimate of $2.82 billion. The Beer segment's net sales increased 12% YoY, while Wine and Spirits declined 14% YoY. The company raised its FY24 Comparable EPS outlook from $11.70 - $12 to $12 - $12.20. However, STZ shares are trading lower by 0.75% in premarket trading.
October 05, 2023 | 12:57 pm
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Constellation Brands reported a 7% YoY increase in Q2 FY24 net sales and raised its FY24 EPS outlook. Despite the positive earnings report, STZ shares are trading lower.
Despite Constellation Brands' positive Q2 earnings report and raised FY24 EPS outlook, the company's shares are trading lower. This could be due to market factors unrelated to the company's performance, or investors may have expected even better results.
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