Constellation Brands Beats On Q2 Earnings, Beer Business Achieved Solid Mid-Single-Digit Sales Growth
Portfolio Pulse from Nabaparna Bhattacharya
Constellation Brands reported better-than-expected Q2 earnings with adjusted EPS of $4.32 and revenues of $2.92 billion. The Beer business showed solid growth, while the Wine and Spirits segment faced a goodwill impairment loss. The company declared a quarterly dividend and affirmed its FY25 EPS forecast.
October 03, 2024 | 1:36 pm
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Constellation Brands exceeded Q2 earnings expectations with strong performance in its Beer business, despite a significant goodwill impairment in Wine and Spirits. The company declared a dividend and maintained its FY25 EPS forecast.
The positive earnings surprise and strong Beer business performance are likely to support the stock price. However, the goodwill impairment in Wine and Spirits and slight share price decline indicate mixed investor sentiment. The dividend declaration and maintained EPS forecast provide stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100