Constellation Brands' Stock Rises as Beer Segment Drives Q1 Profit Boom
Portfolio Pulse from Shivani Kumaresan
Constellation Brands Inc. (NYSE:STZ) shares are rising after the company posted better-than-expected first-quarter FY25 adjusted EPS. The company reported a 6% year-on-year sales growth to $2.66 billion, with the Beer segment showing an 8% increase. Gross profit increased by 12%, and operating income jumped 23%. The company reaffirmed its FY25 guidance and declared a quarterly cash dividend of $1.01 per share.
July 03, 2024 | 12:29 pm
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Constellation Brands Inc. (NYSE:STZ) shares are rising after the company posted better-than-expected first-quarter FY25 adjusted EPS. The Beer segment showed strong performance with an 8% increase in net sales, driving overall growth. The company reaffirmed its FY25 guidance and declared a quarterly cash dividend of $1.01 per share.
The better-than-expected EPS and strong performance in the Beer segment are positive indicators for STZ's stock price. The reaffirmed guidance and declared dividend further support investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100