- Luglio 4, 2023
- Posted by: Oliver
- Categoria: Economics, Finance & accounting
Bill Newlands, President and CEO of Constellation Brands commented on the results,”Our Beer Business delivered double-digit net sales growth and continued to outperform the market as the top share gainer. Meanwhile, our higher-end Wine and Spirits Business outperformed the higher-end of the U.S. wine
category and gained share in that segment.”
Looking forward, in FY24, the company slashed its outlook and now expects earnings between $9.35 and $9.65 per share from its prior outlook in the range of $11.60 to $11.90 per share and affirmed its comparable earnings to be in the range of $11.70 to $12 per share.
The company also declared a quarterly cash dividend of $0.89 per share of Class A common stock payable on August 24 to shareholders of record as of the close of business on August 10, 2023.
Analysts are bullish about STZ stock with a Strong Buy consensus rating based on 15 Buys and two Holds.