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Will Constellation Brands announce further impairment charges for Wine and Spirits in FY 2025?
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Constellation Brands' fiscal year 2025 financial disclosures
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Constellation Brands Beats Q2 Estimates with $4.32 EPS, $2.92B Sales, Reports $2.25B Impairment
Oct 3, 2024, 12:20 PM
Constellation Brands Inc. reported its second-quarter fiscal 2025 financial results, exceeding analysts' expectations. The company posted earnings per share (EPS) of $4.32, surpassing the estimated $4.08. Net sales for the quarter were $2.92 billion, also beating the forecasted $2.90 billion. Despite the strong performance, Constellation Brands announced a non-cash goodwill impairment loss of $2.25 billion for its Wine and Spirits business, which underperformed. The company affirmed its fiscal year 2025 EPS guidance of $13.60 to $13.80 and enterprise net sales growth of 4-6%. CEO noted that the macroeconomic backdrop has weighed on demand for beverage alcohol and consumer packaged goods, but the company continued to deliver strong performance.
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