other material
confidence high
sentiment positive
materiality 0.85
Constellation Brands sets medium-term targets: Beer ~7-9% growth, low double-digit EPS; adds $2B buyback
CONSTELLATION BRANDS, INC.
- Beer medium-term net sales growth ~7-9%, op margins ~39-40%; Wine & Spirits ~1-3% sales growth, ~25-26% margins.
- Targets annual low double-digit diluted EPS growth (ex-Canopy EIE) over medium term.
- Expects cumulative $15-17B operating cash flow and $10-12B free cash flow from FY2024 to FY2028.
- Announces additional $2B share repurchase authorization; reduced capex ~$1B via brewery efficiency.
- Modelo Especial #1 dollar sales beer brand; Pacifico doubled in size since FY2019.