Constellation Brands: raises EPS target

(CercleFinance.com) - On quarterly earnings call, Constellation Brands has raised its target range for LFL EPS for FY 2023-24 to between $12 and $12.
20, instead of $11.70 to $12, as provided three months ago.

For Q2, the alcoholic beverage group's EPS rose 17% to $3.70 on a comparable basis ($3.80 excluding Canopy EIE), while its operating profit increased 10% to $968m.

Again on a comparable basis, Constellation Brands' sales rose 7% to $2.84bn, with double-digit growth in beer more than offsetting a sharp decline in wines and spirits.


Copyright (c) 2023 CercleFinance.com. All rights reserved.