Constellation Brands continues to make progress towards its strategic priorities despite a challenging operating environment. The company's Beer Business demonstrates growth in both dollar and volume share across U.S. tracked channels. Key financial highlights include reported EPS of $2.88 and comparable EPS of $3.06.
The Beer Business outperforms the industry, surpassing total beverage alcohol and beer category in dollar and volume sales. Operating Cash Flow stands strong with year-to-date generation of $2.1 billion and free cash flow of $1.45 billion. Additionally, Constellation Brands repurchased $824 million of shares year-to-date and declared a quarterly cash dividend of $1.02 per share.
Strong Performance in Beer Business
The Beer Business outperforms the industry, surpassing total beverage alcohol and beer category in dollar and volume sales, positioning Constellation Brands as a leader in the market.
Operating Cash Flow and Free Cash Flow
Constellation Brands showcases robust financial health with the generation of $2.1 billion in year-to-date operating cash flow and $1.45 billion in free cash flow, indicating efficient operational management and capital allocation.
Share Repurchases and Dividends
The company's proactive approach to capital allocation is evident through the repurchase of $824 million of shares year-to-date and the declaration of a quarterly cash dividend of $1.02 per share, illustrating a commitment to enhancing shareholder value.
- Constellation Brands' Beer Business secures the #3 position as a dollar share gainer in Circana U.S. tracked channels, showcasing its competitive strength and market penetration. In contrast, net sales in the Wine and Spirits Business declined by 51% compared to the previous year, highlighting areas for potential strategic review and improvement.
Despite the challenging operating environment, Constellation Brands remains steadfast in pursuing growth and maintaining disciplined capital allocation practices. The company's consistent financial performance underscores its dedication to long-term success and value creation for shareholders.