Constellation Brands Reports Q3 2024 Earnings Results
Constellation Brands (STZ) reported a 3% increase in enterprise net sales, driven by growth in the Beer segment, though Wine and Spirits underperformed. The company saw a 13% rise in comparable enterprise operating income, but reported operating income fell 226% due to a $2.25 billion non-cash goodwill impairment. Beer net sales grew 6%, with strong volume and pricing gains.
Topics: Beer Business Earnings Goodwill Impairment Operating Income Sales Growth Wine and Spirits