Constellation Brands (STZ) Misses Q2 EPS by 25c, Revenue Beats, Updates Guidance

Constellation Brands (NYSE: STZ) reported Q2 EPS of $2.52, $0.25 worse than the analyst estimate of $2.77. Revenue for the quarter came in at $2.37 billion versus the consensus estimate of $2.3 billion.

• Generates reported basis EPS of $0.01 and comparable basis EPS of $2.38, including Canopy equity losses of $0.13; excluding Canopy equity losses, achieved comparable basis EPS of $2.52 • Beer Business delivers double-digit net sales growth driven by the continued strength of Modelo Especial and Corona Extra • Wine and Spirits Business delivers strong, organic net sales growth driven by solid performance from The Prisoner Brand Family, Kim Crawford, and Meiomi • Generates $1.5 billion of operating cash flow, an increase of 6%, and $1.2 billion of free cash flow • Fully redeems outstanding 2.70% Senior Notes and 2.65% Senior Notes due in 2022

GUIDANCE:

Constellation Brands sees FY2022 EPS of $10.15-$10.45, versus the consensus of $10.03.

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

You May Also Be Interested In

• Constellation Brands (STZ) PT Lowered to $175 at UBS Ahead of Q1 Earnings
• Morgan Stanley Downgrades Melco Resorts (MLCO) to Equalweight
• Wall Street scrambles to lift Micron price targets ahead of earnings