Constellation Brands (NYSE: STZ) today announced its first quarter financial results for the period ended May 31, 2020.
First quarter net loss was $177.9 million, or $0.94 per share, compared to net loss of $245.4 million, or $1.30 per share in first quarter of 2020.
Net sales decreased 6% to $1.96 billion.
Our strong cash flow results provide financial flexibility as we continue to focus on reducing our debt levels. During the quarter we refinanced debt at favorable rates to enhance liquidity during this time of uncertainty.
Garth Hankinson, CFO
