Disappointing sales and lowered earnings forecast for Constellation Brands

  • Constellation Brands misses sales estimates
  • Adjusted earnings of $3.19 per share, beating expectations
  • Sales of $2.47 billion fall short of expectations
  • Fiscal-year earnings guidance slashed
  • Constellation Brands stock rises 0.7% in premarket trading

Constellation Brands, the seller of Mexican beer Modelo Especial, reported adjusted earnings of $3.19 per share for its third fiscal quarter, surpassing Wall Street expectations. However, sales of $2.47 billion fell short of estimates. As a result, the company lowered its earnings forecast for the fiscal year ending in February to a range of $9.15 to $9.35 per share, down from the previous guidance of $9.60 to $9.80. Despite the disappointing sales, Constellation Brands confirmed its guidance for adjusted earnings and raised its outlook for operating cash flow and free cash flow. The company’s stock rose 0.7% in premarket trading.

Public Companies: Constellation Brands (STZ)
Private Companies:
Key People: Bill Newlands (President and CEO)

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Factuality Level: 8
Justification: The article provides specific information about Constellation Brands’ quarterly earnings and sales, including the adjusted earnings per share and the missed sales expectations. It also includes a quote from the President and CEO of the company. However, the article lacks additional context or analysis, and there is no mention of any potential factors that may have contributed to the results.

Noise Level: 3
Justification: The article provides a brief summary of Constellation Brands’ quarterly earnings, including adjusted earnings and sales figures. It also mentions the company’s lowered earnings forecast and positive outlook for operating cash flow and free cash flow. However, the article lacks in-depth analysis, evidence, and actionable insights. It mainly focuses on financial numbers without exploring the consequences or implications of the results.

Financial Relevance: Yes
Financial Markets Impacted: Constellation Brands

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of Constellation Brands, a company in the beer industry. There is no mention of any extreme events.

Reported publicly: www.marketwatch.com