STZ - Beverage Alcohol Company Constellation Brands' Q2: Earnings Beat 8.7% Beer Shipments Growth & More | Benzinga
Constellation Brands Inc (NYSE: STZ), an international producer and marketer of beer, wine, and spirits, reported second-quarter FY24 net sales growth of 7% year-on-year to $2.84 billion, beating the analyst consensus estimate of $2.82 billion.
Net sales for the Beer segment increased 12% Y/Y to $2.392 billion, and Wine and Spirits declined 14% Y/Y to $444.1 million.
Shipment volume for Beer climbed 8.7%, while Wine and Spirits plunged 17.6%.
Gross profit increased 9.4% to $1.44 billion, and the operating income rose 20.3% to $978.7 million.