Constellation Brands to Outline Strategic Foundation for Continued Growth at 2023 Investor Day; Sees Beer Business Medium-Term ~7-9% Net Sales Growth And ~39-40% Operating Margins Outlook Unchanged
Portfolio Pulse from Benzinga Newsdesk
Constellation Brands, Inc. (NYSE:STZ) has outlined its strategic foundation for continued growth at its 2023 Investor Day. The company expects its Beer Business to see medium-term net sales growth of 7-9% and operating margins of 39-40%. The Wine & Spirits Business now expects medium-term net sales growth of 1-3% and operating margins of 25-26%. The company is targeting annual low double-digit diluted EPS growth over the medium term and expects cumulative $15-17B operating cash flow and $10-12B free cash flow from Fiscal 2024 to Fiscal 2028. The company also announced an additional $2B share repurchase authorization.
November 02, 2023 | 5:03 pm
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Constellation Brands expects medium-term net sales growth of 7-9% for its Beer Business and 1-3% for its Wine & Spirits Business. The company also announced an additional $2B share repurchase authorization, which could potentially boost its stock price.
The company's optimistic growth projections and the announcement of a $2B share repurchase authorization are positive signals for investors, which could potentially lead to an increase in the company's stock price in the short term.
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