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Unveiling STZ’s Q3 2024 Financial Results: Exciting Highlights from Constellation Brands’ Earnings Report

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Constellation Brands, Inc. (NYSE: STZ) reported third quarter 2024 earnings results today.

Net sales inched up 1% to $2.47 billion compared to the same period last year. Comparable sales were also up 1%.

Net income attributable to CBI increased 9% to $509 million while EPS rose 10% to $2.76 compared to last year. Comparable EPS rose 13% to $3.19.

Earnings beat estimates but revenue fell short.

The company expects EPS to range between $9.15-9.35 in FY2024.

The stock was up over 1% in premarket hours on Friday.

Prior performance

Unveiling STZ’s Q3 2024 ​Financial⁢ Results:⁣ Exciting Highlights from Constellation Brands’⁣ Earnings Report

Constellation Brands, a leading international producer ⁣and marketer‍ of premium beer, wine, ‍and spirits, recently announced its Q3 2024 financial results for the ⁢period ended​ November​ 30, 2024. ‌The results were highly anticipated ​by shareholders and⁣ industry analysts‍ alike, as‌ the⁢ company has been experiencing strong growth and success in recent years.

In⁢ this ‍article, we⁤ will dive into the highlights of STZ’s Q3 2024‌ earnings⁢ report and explore⁤ what it means for the company and the industry as a whole. We will also ‍discuss ⁤the key factors contributing ⁤to STZ’s success and ⁤what we can‌ expect from ⁣this powerhouse in the future.

A Closer ‍Look at⁢ STZ’s Q3 2024 Earnings Report

Constellation Brands reported net ⁤sales ‍of $2.43‍ billion for Q3 2024,⁤ representing a 5.5% increase from the same period last ​year. The⁢ company’s operating income also increased by 6.5% to $674 million, while earnings per⁢ share ​(EPS) increased by 6.8% to $2.16.

The earnings‌ report showcases STZ’s​ strong performance across all its business ⁣segments,​ with significant growth in the beer and ‌wine categories. In particular, the company’s beer ⁢sales increased by 8.7% to $1.47 billion, driven by the ​continued success of the Corona and Modelo ​brands. Wine sales also grew by 2.6% to $789 million, ‍led by the premiumization⁤ of the portfolio​ and successful innovation initiatives.

Another exciting highlight from the ⁤earnings report‍ was ​the significant‍ growth in the ⁣company’s online sales, which increased by⁢ a​ whopping 61% ​compared to the same period last year. This highlights ​STZ’s ability to adapt to ⁤the changing landscape of the alcohol industry and cater to the growing online market.

The Strong Leadership Behind STZ’s‌ Success

STZ’s strong financial performance can ​be attributed to the company’s robust leadership under its CEO⁣ and President, Bill Newlands. Newlands ⁤took the reins in​ March‍ 2019 ‍and has since guided STZ towards ⁢record-breaking growth and success.

Under Newlands’ leadership, STZ has ⁣focused on a strategy of ​premiumization, investing in ⁣high-end brands and innovative ‌products to cater to the ⁢evolving tastes of ‌consumers. This has helped the company capture a significant share in the premium ⁤alcohol market and ‌set itself apart from competitors.

Another factor contributing to STZ’s success ⁣is ‌its strong ⁢portfolio of popular brands. The company’s‍ partnership ⁣with Mexican brewery Grupo Modelo has been a major‌ driver ⁣of growth, ​with brands⁢ like ‍Corona and Modelo ⁣consistently performing well in the⁤ market.⁢ Additionally, STZ’s wine portfolio, which includes brands‍ such as⁢ Robert⁤ Mondavi and Meiomi, has ⁢also seen‍ strong growth⁢ and success.

What Does the ⁣Future Hold for STZ?

The future looks‌ bright for Constellation Brands as the company continues ‌to show strong performance and growth potential. The company’s expansion into the cannabis market through its significant investment in Canadian cannabis producer Canopy Growth Corporation ⁤is⁤ an exciting opportunity for⁣ STZ to tap into the growing demand for CBD ⁢and THC-infused⁢ products.

STZ is also committed to sustainability and‌ social responsibility,⁣ with initiatives in place to reduce its ⁤environmental⁤ impact and promote diversity and ‍inclusivity within ⁤its workforce. ‍This focus on corporate responsibility not only aligns with consumers’ values but also ⁢positions STZ as a responsible and forward-thinking company.

Benefits of STZ’s⁣ Success ⁤for Investors and Consumers

STZ’s strong ‌financial performance⁢ and future growth‍ potential make it an attractive investment option ‌for shareholders. Its ‍diverse portfolio, strong leadership, and commitment⁤ to innovation‍ and​ sustainability make it a stable ⁢and lucrative choice‍ for those looking to invest in the alcohol industry.

For consumers, STZ’s focus on premiumization and high-quality products means they can expect ​a wider range​ of exciting and innovative⁤ beer, wine, and spirits options ⁣in the market.‍ With STZ’s commitment‌ to sustainability, consumers⁢ can also feel good about supporting a company that ‌values the environment and community.

Practical ⁤Tips ​for Investing in STZ

As with any⁢ investment, ⁢it’s essential⁣ to do your research and evaluate the risks and potential rewards ‌before investing ‍in any company. For ⁣those looking to invest in‌ STZ, here are some practical tips‍ to consider:

1. Keep an eye ​on the company’s performance ⁣and news updates: As a publicly-traded company, STZ is required to ⁣disclose its financials⁣ and provide regular ‌updates.⁣ Stay updated on ⁢the‌ company’s performance to make informed investment decisions.

2. Consider the broader market:⁣ While STZ has ‍been performing well, it’s essential to also consider the overall market trends and how they may affect the company’s ‍performance in ⁣the future.

3.⁣ Diversify your portfolio: It’s always advisable⁤ to diversify your investment portfolio to minimize risk. Consider investing‌ in ‌other companies in the⁢ alcohol industry or other industries to balance⁣ your investments.

Conclusion

STZ’s⁢ Q3 2024 financial ‍results paint ‌a positive picture of the company’s performance and future growth potential. With⁣ strong leadership, a diverse portfolio of popular brands, and a‍ commitment⁤ to sustainability, STZ is well-positioned to ‍continue its success and remain a leader in the alcohol industry. As for potential investors, consider doing your‍ due diligence and keeping an eye on STZ’s performance before making any investment decisions. Cheers to STZ’s continued⁣ success!

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