Constellation Brands Reports Q1 Beat & Better Than Expected Outlook
<p><a href='https://financialmodelingprep.com/financial-summary/STZ'>Constellation Brands, Inc. (NYSE:STZ)</a> reported its Q1 results, with EPS coming in at $2.66, better than the Street estimate of $2.53. Revenue was $2.54 billion, beating the Street estimate of $2.16 billion.</p>
<p>The prospects of funding approximately $1.5 billion for the Class B share elimination was viewed negatively by the investors, alongside higher investment spending and reasonable questions on demand momentum from here as recessionary pressures build and consumer spending becomes increasingly constrained.</p>
<p>The company expects full 2023 EPS to be in the range of $11.20-$11.50, better than the Street estimate of $11.06.</p>

NYSE:STZ