Beer maker Constellation Manufacturers, Inc. (NYSE: STZ) on Thursday reported increased gross sales and comparable revenue for the fourth quarter of 2024. The outcomes additionally exceeded analysts’ estimates.
Comparable earnings, adjusted for one-off objects, elevated to $2.26 per share within the fourth quarter from $1.98 per share final 12 months and got here in above Wall Avenue’s projection. On an unadjusted foundation, the corporate reported a revenue of $392.4 million or $2.14 per share for This autumn, in comparison with $223.0 million or $1.21 per share within the prior 12 months interval. At $2.14 billion, fourth-quarter web gross sales had been up 7% year-over-year and barely above expectations.
“We delivered another year of solid performance in Fiscal 24. Our Beer Business continued its strong growth momentum as it achieved its 56th consecutive quarter of volume growth while maintaining best-in-class margins,” mentioned Constellation Manufacturers’ CEO Invoice Newlands.
