Constellation Brands (STZ) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Constellation Brands reported $2.92 billion in revenue for the quarter ended August 2024, a year-over-year increase of 2.9%, with an EPS of $4.32 compared to $3.70 a year ago [1] - The revenue was slightly below the Zacks Consensus Estimate of $2.95 billion, resulting in a surprise of -1.08%, while the EPS exceeded the consensus estimate of $4.11 by +5.11% [1] Financial Performance Metrics - Net Sales for Wine and Spirits were $388.70 million, which is -12.5% year-over-year and below the average estimate of $417.31 million [3] - Net Sales for Beer reached $2.53 billion, reflecting a +5.8% year-over-year change, slightly below the average estimate of $2.54 billion [3] - Operating Income for Beer was reported at $1.08 billion, surpassing the average estimate of $1.04 billion [3] - Operating Income for Wine and Spirits was $70.50 million, exceeding the average estimate of $65.05 million [3] - Corporate Operations and Other reported an Operating Income of -$58.40 million, better than the average estimate of -$67.25 million [3] Stock Performance - Shares of Constellation Brands have returned +3.7% over the past month, outperforming the Zacks S&P 500 composite's +1.3% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [4]