Constellation Brands (STZ) Q2 Earnings Top Estimates

Core Insights - Constellation Brands reported quarterly earnings of $4.32 per share, exceeding the Zacks Consensus Estimate of $4.11 per share, and up from $3.70 per share a year ago, representing an earnings surprise of 5.11% [1] - The company posted revenues of $2.92 billion for the quarter ended August 2024, which was below the Zacks Consensus Estimate by 1.08%, but an increase from $2.84 billion year-over-year [2] - The stock has gained approximately 5.8% since the beginning of the year, underperforming the S&P 500's gain of 19.7% [3] Earnings Outlook - The future performance of Constellation Brands' stock will largely depend on management's commentary during the earnings call and the revisions of earnings estimates [3][4] - The current consensus EPS estimate for the upcoming quarter is $3.47 on revenues of $2.59 billion, and for the current fiscal year, it is $13.53 on revenues of $10.44 billion [7] Industry Context - The Beverages - Alcohol industry, to which Constellation Brands belongs, is currently ranked in the bottom 35% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of Constellation Brands may also be influenced by the overall industry outlook, as historical data shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]