Constellation Brands' Q4 FY24 sales grew 7.1% YoY to $2.14B, beating estimates, with beer sales up 11% and wine/spirits down 6%.
Constellation Brands (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. Beer sales increased 11% Y/Y to $1.702 billion, while Wine and Spirits declined 6% Y/Y to $436.4 million. The company plans to focus on 11 core wine brands amid ongoing difficulties in the category, which is expected to face ongoing challenges. Constellation's stock rose in early trading on the earnings report, which came in above expectations and amid optimistic guidance for fiscal 2025.
April 11, 2024
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