Constellation Brands Q1 Adj $3.57 Beats $3.46 Estimate, Sales $2.66B Miss $2.67B Estimate
Portfolio Pulse from Benzinga Newsdesk
Constellation Brands (NYSE:STZ) reported Q1 earnings of $3.57 per share, beating the analyst estimate of $3.46. However, sales of $2.66 billion slightly missed the $2.67 billion estimate. Earnings increased by 22.68% year-over-year, while sales grew by 5.84%.
July 03, 2024 | 11:32 am
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Constellation Brands reported strong Q1 earnings of $3.57 per share, surpassing the analyst estimate of $3.46. However, sales of $2.66 billion fell just short of the $2.67 billion estimate. Despite the sales miss, the significant year-over-year earnings growth of 22.68% and sales growth of 5.84% are positive indicators.
The earnings beat is a positive signal for investors, indicating strong profitability. The slight miss in sales is less concerning given the overall growth in both earnings and sales compared to the previous year. This should have a positive short-term impact on the stock price.
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IMPORTANCE 80
RELEVANCE 100