2024-04-12 13:41:22 ET
Summary
- Constellation Brands' Q4 FY24 earnings per share exceeded guidance and its FY25 outlook is positive too, indicating that its industry beating price returns can continue for the rest of 2024.
- The company also increased dividends, which can add to the returns. Additionally, as a consumer staple stock, it's a safe buy when the consumer economy is weakening.
- There are pockets of weakness, like in its Wine and Spirits segment, but that's expected to subside in FY25 as well, while its Beer business continues to grow.
The consumer economy might be showing signs of softening, but alcoholic drinks manufacturer Constellation Brands ( STZ ) is holding up rather well. The owner of Corona and Modelo beers released its final quarter (Q4 FY24) and full year FY24 (year ending February 2023) results yesterday, which show that despite pockets of weakness, its performance is good....
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Constellation Brands: Results Surpass Projections, Outlook Positive