Constellation Brands Q3 Adj EPS $3.19 Beats $3.00 Estimate, Sales $2.47B Miss $2.54B Estimate
Portfolio Pulse from Benzinga Newsdesk
Constellation Brands (NYSE:STZ) reported Q3 adjusted EPS of $3.19, surpassing the $3.00 estimate, a 12.72% year-over-year increase. However, sales of $2.47B fell short of the $2.54B estimate, though they were up 1.40% from the previous year.
January 05, 2024 | 12:36 pm
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Constellation Brands exceeded EPS estimates but missed on sales for Q3, indicating mixed financial performance.
The EPS beat may be viewed positively by investors, signaling profitability and operational efficiency. However, the sales miss could raise concerns about growth and market expectations. The mixed results could lead to neutral short-term price movement as the market digests both positive and negative aspects of the report.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100