Constellation Brands (NYSE: STZ) reported Q2 EPS of $3.17, $0.39 better than the analyst estimate of $2.78. Revenue for the quarter came in at $2.66 billion versus the consensus estimate of $2.5 billion.

GUIDANCE:

Constellation Brands sees FY2023 EPS of $11.20-$11.60, versus the consensus of $11.06.

•Beer: net sales growth 8 - 10%; operating income growth 3 - 5%

•Wine and Spirits: net sales decline 0 - 2% and operating income growth 3 - 5% •Interest expense: approximately $360 - $370 million

•Tax rate: reported approximately 71%; comparable excluding Canopy equity earnings impact approximately 20%

•Weighted average diluted shares outstanding: approximately 186.5 million

•Operating cash flow: $2.6 - $2.8 billion •Capital expenditures: $1.3 - $1.4 billion, including approximately $1.2 billion targeted for Mexico beer operations expansion, optimization, and/or construction activities

•Free cash flow: $1.3 - $1.4 billion

For earnings history and earnings-related data on Constellation Brands (STZ) click here.