New York-headquartered Constellation Brands, Inc. (STZ), a leading international producer and marketer of beer, wine, and spirits, with a market cap of $46.8 billion, is expected to announce its fiscal Q1 earnings for 2024, before the market opens on Wednesday, July 3.
Ahead of the event, analysts expect Constellation Brands to report a profit of $3.46 per share, an 18.9% jump from $2.91 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s bottom-line estimates in its recent quarterly reports. Its adjusted earnings of $2.26 per share for the last reported quarter surged 14.1% year over year, beating the consensus estimate by 7.6%. This success is fueled by robust beer sales, especially Modelo Especial, along with favorable pricing and efficient cost management, driving impressive net sales and operating income growth.
