Constellation Brands (NYSE:STZ) shares have dipped slightly in premarket trading after the company reported earnings for its second quarter.
The beverages company reported earnings of $3.70 per share, $0.34 better than the analyst estimate of $3.36, while revenue for the quarter rose 7% YoY, coming in at $2.84 billion versus the consensus estimate of $2.82B.
The company said its beer business achieved strong net sales and operating income, each posting double-digit increases, while its wine and spirits business delivered a strong relative performance, driven by its largest higher-end wine brands.
STZ experienced continued strong demand across its high-end portfolio.
The company raised its fiscal 2024 reported EPS outlook to between $12 and $12.20, up from its previous expectation of between $11.70 and $12 per share.
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor! • DiscoverGold
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.