Beer, wine, and spirits company Constellation Brands (NYSE:STZ) will be reporting results tomorrow after market close. Here’s what you need to know.
Constellation Brands missed analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $2.46 billion, flat year on year. It was a slower quarter for the company, with a miss of analysts’ organic revenue and adjusted operating income estimates.
Is Constellation Brands a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Constellation Brands’s revenue to be flat year on year at $2.12 billion, slowing from the 7.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.26 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Constellation Brands has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Constellation Brands’s peers in the consumer staples segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Tilray’s revenues decreased 1.4% year on year, missing analysts’ expectations by 10.1%, and WD-40 reported revenues up 5%, falling short of estimates by 5.4%.
Read our full analysis of Tilray’s results here and WD-40’s results here.
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