Constellation Brands Slips To Q2 Loss, Adj. EPS Beats View; Backs FY25 Adj. Earnings Forecast

(RTTNews) - Constellation Brands, Inc. (STZ) reported Thursday that its second-quarter net loss attributable to the company was $1.20 billion, compared to last year's profit of $690 million.

Loss per share was $6.59, compared to profit of $3.74 a year ago.

Comparable attributable net income was $787.6 million or $4.32 per share, compared to prior year's $699.6 million or $3.80 per share.

Analysts on average expected the company to report earnings of $4.08 per share on sales of $10.44 billion, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Net sales grew to $3.14 billion from last year's $3.05 billion. The Street was looking for sales of $2.9 billion for the quarter.

Looking ahead for fiscal 2025, the company updated its reported earnings per share outlook to $4.05 to $4.25, while last year's earnings were $9.39 per share. In early September, the company said it expects reported earnings of $3.05 to $7.92 per share.

Further, the company maintained its recently updated comparable earnings per share outlook of $13.60 to $13.80 for the year, compared to $12.38 a year ago.

Analysts expect earnings of $13.69 per share for the year.

On October 1, Constellation's board of directors declared a quarterly cash dividend of $1.01 per share of Class A Common Stock payable on November 21, to stockholders of record as of the close of business on November 5.

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