Beer maker Constellation Brands, Inc. (NYSE: STZ) on Thursday reported higher sales and comparable profit for the fourth quarter of 2024. The results also exceeded analysts’ estimates.
Comparable earnings, adjusted for one-off items, increased to $2.26 per share in the fourth quarter from $1.98 per share last year and came in above Wall Street’s projection. On an unadjusted basis, the company reported a profit of $392.4 million or $2.14 per share for Q4, compared to $223.0 million or $1.21 per share in the prior year period. At $2.14 billion, fourth-quarter net sales were up 7% year-over-year and slightly above expectations.
“We delivered another year of solid performance in Fiscal 24. Our Beer Business continued its strong growth momentum as it achieved its 56th consecutive quarter of volume growth while maintaining best-in-class margins,” said Constellation Brands’ CEO Bill Newlands.