Constellation Brands (STZ) Tops Q4 EPS by 27c, Offer Outlook

Constellation Brands (NYSE: STZ) reported Q4 EPS of $1.82, $0.27 better than the analyst estimate of $1.55. Revenue for the quarter came in at $1.95 billion versus the consensus estimate of $1.87 billion.

GUIDANCE:

Constellation Brands sees FY2022 EPS of $9.95-$10.25, versus the consensus of $10.44.

Fiscal 2022 Guidance Assumptions:

Beer: net sales growth 7 - 9%; operating income growth 3 - 5% ● Wine and Spirits: net sales decline 22 - 24% and operating income decline 23 - 25%; organic net sales growth 2 - 4% ● Interest expense: $350 - $360 million ● Tax rate: reported approximately 22%; comparable excluding Canopy equity earnings and the Mexicali impairment impact approximately 19% ● Weighted average diluted shares outstanding: approximately 196 million; assumes no share repurchases for fiscal 2022 ● Operating cash flow: $2.4 - $2.6 billion ● Capital expenditures: $1.0 - $1.1 billion, including approximately $900.0 million targeted for Mexico beer operations expansion activities ● Free cash flow: $1.4 - $1.5 billion

For earnings history and earnings-related data on Constellation Brands (STZ) click here.

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