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Constellation Brands positive on earnings beat

Stock MarketsOct 05, 2017 08:10AM ET
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© Reuters. Constellation Brands positive on earnings beat
  • Constellation Brands (NYSE:STZ) reports organic net sales rose 8% to $2.07B in Q2.
  • Beer segment sales increased 12.8% to $1.38B.
  • Wine and spirits sales fell 11.7% to $705.6M.
  • Adjusted gross margin rate expanded 290 bps to 50.9%.
  • Adjusted operating margin rate advanced 340 bps to 34.1%.
  • Shipment volume: Beer: 80.3M (+11.7%); Wine and spirits: 14.7M (-19.2%).
  • FY2018 Guidance: Beer segment sales: +9% to +11%; Wine & Spirits segment sales: -4% to -6%; Beer operating income: +17% to +19%; Wine & Spirits operating income: flat; Interest expense: $330M to $340M; Tax rate: ~21%; Weighted average diluted shares outstanding: ~201M; Diluted EPS: $7.90 to $8.05; Adjusted diluted EPS: $8.25 to $8.40; Free cash flow: $725M to $825M; Operating cash flow: $1.9B to $2.1B; Capex: ~$1.175B to $1.275B.
  • STZ +4.44% premarket.
  • Now read: Wrong About Brown-Forman


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Constellation Brands positive on earnings beat
 

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