Constellation Brands Q4 Earnings Beat Estimates As Beer Sales Soar
Portfolio Pulse from Shivani Kumaresan
Constellation Brands Inc (NYSE:STZ) reported Q4 FY24 sales of $2.14 billion, up 7.1% Y/Y, beating estimates. Beer sales rose 11% to $1.702 billion, while Wine and Spirits fell 6%. Operating income surged 35% to $629.4 million, with an operating margin of 29.4%. Comparable EPS was $2.30, above the $2.09 estimate. The company declared a 13% higher dividend of $1.01 per share and expects FY25 net sales growth of 6%-7% and Comparable EPS of $13.50-$13.80. STZ shares rose 0.73% in premarket trading.
April 11, 2024 | 1:08 pm
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POSITIVE IMPACT
Constellation Brands reported higher than expected Q4 sales and earnings, declared a 13% higher dividend, and provided optimistic FY25 guidance.
The positive earnings report, increased dividend, and optimistic future guidance are likely to instill confidence in investors, potentially leading to a short-term increase in STZ's stock price. The premarket trading activity already shows a positive investor reaction.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100