Constellation Brands: FCF target raised for 2023-24
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.
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