Constellation Brands Q1 2021 Earnings Report
Key Takeaways
Constellation Brands reported net sales of $1.963 billion and a net loss attributable to CBI of $(177.9) million, or $(0.94) per share. Comparable EPS was $2.30, or $2.44) excluding Canopy Growth equity losses. The company generated $687 million in operating cash flow and $542 million in free cash flow. Beer depletions remained strong, with production in Mexico returning to normal levels. The wine & spirits premiumization strategy gained momentum.
Generated reported basis EPS of $(0.94) and comparable basis EPS of $2.30, including Canopy Growth equity losses of $0.14; excluding Canopy Growth equity losses, achieved comparable basis EPS of $2.44
Generated $687 million of operating cash flow and $542 million of free cash flow, an increase of 16% and 24%, respectively
Beer depletions remain strong and consistent with long-term trends; production in Mexico returns to normal levels in June
Wine & spirits premiumization strategy gains momentum, with strong Power Brands performance in IRI channels
Constellation Brands
Constellation Brands
Constellation Brands Revenue by Segment
Forward Guidance
Fiscal 2021 guidance is unavailable at this time due to the uncertainty and potential impacts on the business from COVID-19