Constellation Brands (STZ) received mixed reviews on its performance. Its
Q2 earnings were largely in line with expectations and the company managed to beat estimates. The beer business showed resilience in a tough market, achieving
solid mid-single-digit sales growth, with brands like Modelo Especial and Pacifico performing well. This resulted in STZ affirming its
Free Cash Flow Target, which attracted investors. However, there were concerns as its wine and spirits business continued to underperform, leading to downgrades from TD Cowen and BofA Securities.
Beer consumption is reportedly in decline. E. Yuri Hermida has been appointed as the new EVP,
Chief Growth & Strategy Officer, and the company is alleged to be focused on improving performance and operations. The company provided a dividend of $1.01. STZ cut its 2024 profit guidance due to lagging wine and spirits sales and there are reported concerns about its back-half performance. Despite this, the company remains optimistic about its growth prospects and has updated its 2025 outlook.
Constellation Brands STZ News Analytics from Thu, 20 Jun 2024 07:00:00 GMT to Sat, 12 Oct 2024 10:17:32 GMT -
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