Constellation Brands: Q1 EPS up 9%

(CercleFinance.com) - Constellation Brands has reported a 9% increase in Q1 2023-24 EPS to $2.
91 on a comparable basis ($3.04 excluding Canopy EIE), with a 4% increase in operating profit to $827m.

Also on a comparable basis, the alcoholic beverages group's sales rose by 6% to $2.51bn, with the 11% growth in beers more than offsetting a 10% decline in wines and spirits.

For the current FY, Constellation Brands confirms that it expects comparable EPS of between $11.70 and $12, operating cash flow of between $2.4 and $2.6 billion, and free cash flow of 1.2 to 1.3 billion dollars.


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