CEO Bill Newlands said, “While we continue to face the subdues spend and value seeking behaviors that emerged among legal drinking age consumers in Q2, our Beer Business delivered a sequential increase in our depletions growth rate in Q3. This was supported by our relentless focus on executing against key growth drivers of our Beer Business, including incremental marketing investments. That said given near-term uncertainty on when consumers will revert to more normalized spending, we have prudently lowered our growth outlook for net sales and operating income in fiscal 2025 and have also revised the lower-end of our comparable EPS growth guidance.”
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STZ:
- Constellation Brands sees FY25 comparable EPS view $13.40-$13.80
- Constellation Brands reports Q3 comparable EPS $3.25, consensus $3.31
- Options Volatility and Implied Earnings Moves Today, January 10, 2025
- Constellation Brands (STZ) Q3 Pre-Earnings: Here’s What to Expect
- Constellation Brands price target lowered to $260 from $270 at TD Cowen