STZ - Constellation Brands Q4 Earnings Beat Estimates As Beer Sales Soar | Benzinga

Constellation Brands Inc (NYSE:STZ) reported fourth-quarter FY24 sales growth of 7.1% year-on-year to $2.14 billion, beating the analyst consensus estimate of $2.10 billion.

Net sales for the Beer segment increased 11% Y/Y to $1.702 billion, and Wine and Spirits declined 6% Y/Y to $436.4 million. Shipment volume for Beer climbed 10.5%, while Wine and Spirits declined 5%.

Gross profit increased 8.1% to $1.03 billion, and the operating income jumped 35% to $629.4 million. The operating margin for the quarter was 29.4%.

Comparable EPS, excluding Canopy EIE, was $2.30. Comparable EPS of $2.26 Full story available on Benzinga.com