Constellation Brands (NYSE:STZ) reports robust Q4 results, surpassing expectations
Constellation Brands (NYSE:STZ) experienced a rise in its share value on Thursday following the release of its fourth-quarter earnings, which exceeded analyst forecasts.
The company announced a revenue of $2.14 billion, topping predictions of $2.1 billion. Additionally, Constellation Brands reported adjusted earnings of $2.26 per share, outpacing the anticipated $2.10 per share.
The company's beer division was highlighted as a key driver of this quarter's success, posting an impressive 11% increase in sales compared to the same period last year.
In contrast, the wine and spirits segment didn't perform as well, showing a 6% drop in sales.
Despite this dip, the robust performance of the beer business helped bolster the overall quarterly results for Constellation Brands.
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