Categories AlphaGraphs, Consumer, Earnings
STZ Earnings: Constellation Brands reports higher profit, sales for Q2 2024
Beer maker Constellation Brands, Inc. (NYSE: STZ) on Thursday said its net sales and comparable profit increased year-over-year in the second quarter of 2024.
Comparable earnings, adjusted for one-off items, increased to $3.70 per share in the second quarter from $3.17 per share last year. On an unadjusted basis, the company reported a profit of $690.0 million or $3.74 per share, compared to a loss of $1.15 billion or $6.30 per share in the prior year period. At $2.84 billion, second-quarter net sales were up 7%.
“Our Beer Business this quarter delivered double-digit net sales and operating income growth. Modelo Especial continued to outperform the market as the top share gainer and solidified its position as the #1 Beer in U.S. tracked channels,” said Constellation Brands’ CEO Bill Newlands.
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