On the occasion of its quarterly publication, Constellation Brands confirms that it expects like-for-like EPS for its 2023-24 financial year to be between $12 and $12.20, but raises its target range for free cash flow to $1.4 to $1.5 billion (instead of $1.2 to $1.3 billion).

In its third accounting quarter, the alcoholic beverage group saw its EPS rise by 13% to $3.19 ($3.24 excluding Canopy EIE) and its operating profit increase by 7% to $820 million, again on a comparable basis.

In terms of sales, Constellation Brands increased by 1% to $2.47 billion, with 4% growth in beer sales offsetting an 8% decline in wine and spirits sales.

Copyright (c) 2024 CercleFinance.com. All rights reserved.