USA: Constellation Reports 23% Increase in Second Quarter Earnings Per Share; Wine and Beer Lead Growth
Constellation Brands, Inc. (NYSE: STZ - news, STZ.B), today reported record results for the three months ended August 31, 2000 ("Second Quarter 2001"). Net income of $26 million represents an increase of 24 percent over net income of $21 million for the three months ended August 31, 1999 ("Second Quarter 2000"). Earnings per share on a diluted basis were $1.40 for Second Quarter 2001 versus $1.14 for the comparable quarter a year ago, an increase of 23 percent.Richard Sands, Chairman, Chief Executive Officer and President of Constellation said, "We are very pleased with the results reported for the quarter and for the first six months of this fiscal year. Led by our North American businesses, we continue to drive sales and earnings growth, particularly in our beer and fine wine portfolio, which outperformed their respective industries. Net sales and operating income for our North American businesses grew eight percent and 21 percent, respectively. Additionally, our free cash flow exceeded earnings and we continue to pay down debt, thereby creating greater financial flexibility as we build a foundation for future growth."
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 15 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Focus - Pernod's YTD Performance by Region
- just On Call - Pernod shifts Scotch focus in China
- Focus - Heineken's Q1 Performance by Region
- Comment - Will We Understand the Language of Rum?
- Focus - Coca-Cola's Q1 Performance by Region
- CFO of Diageo's United Spirits stands down
- Pernod Ricard sees YTD recover as sales increase
- BrewDog launches GBP25m crowd-funding attempt
- Africa "subdued" but Heineken sees Q1 rises
- Elements 8 revamps rum packaging
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- Bacardi Limited - Strategy and SWOT Report