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Aug 31, 2020
Constellation Brands Q2 2021 Earnings Report
Constellation Brands overcame COVID-related headwinds and delivered solid business performance.
Key Takeaways
Constellation Brands reported solid Q2 results with beer depletions increasing almost 5%. The company generated strong cash flow, reduced debt, and continued to invest in brands and capabilities.
Generated reported basis EPS of $2.62 and comparable basis EPS of $2.76, including Canopy Growth equity losses of $0.15; excluding Canopy Growth equity losses, achieved comparable basis EPS of $2.91.
Beer depletion growth remained strong; current production in Mexico maintained at normal levels.
Wine & Spirits Business delivered strong margin performance and double-digit Power Brand growth in IRI channels.
Generated $1.4 billion of operating cash flow and $1.2 billion of free cash flow, an increase of 2% and 10%, respectively.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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