Constellation Brands Q2 2021 Earnings Report
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.
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