Constellation Brands (STZ) Reports Q3 Earnings: What Key Metrics Have to Say
Constellation Brands (STZ) reported $2.47 billion in revenue for the quarter ended November 2023, representing a year-over-year increase of 1.4%. EPS of $3.19 for the same period compares to $2.83 a year ago.
The reported revenue represents a surprise of -3.15% over the Zacks Consensus Estimate of $2.55 billion. With the consensus EPS estimate being $3.03, the EPS surprise was +5.28%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Constellation Brands performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Shipment volume - Beer: 101.1 million versus the two-analyst average estimate of 101.86 million.
Net Sales- Wine and Spirits: $502.40 million versus the five-analyst average estimate of $551.54 million. The reported number represents a year-over-year change of -7.8%.
Net Sales- Beer: $1.97 billion compared to the $2 billion average estimate based on five analysts. The reported number represents a change of +4.1% year over year.
Operating Income- Beer: $757.30 million versus $755.94 million estimated by four analysts on average.
Operating Income- Wine and Spirits: $127.60 million compared to the $140.74 million average estimate based on four analysts.
Operating Income- Corporate Operations and Other: -$65.10 million compared to the -$76.53 million average estimate based on three analysts.
View all Key Company Metrics for Constellation Brands here>>>
Shares of Constellation Brands have returned +2.7% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Constellation Brands Inc (STZ) : Free Stock Analysis Report
