Constellation Brands, Inc.: Quarterly report
Constellation Brands reported a 6% increase in second quarter net sales to $2,633.0 million, while operating income fell 8% due to asset impairments and higher marketing costs.
Mixed for the companyWhat the numbers say
Revenue rose 6.1% to $2.8B versus the same quarter last year (8.7% up on the previous quarter); operating margin narrowed from 32.9% to 28.6%; net income rose 21% to $565.8M; cash was flat at $98.5M while debt was flat.
What happened
- Second quarter net sales grew 6% to $2,633.0 million, driven by shipment volume growth in both the Beer and Wine and Spirits segments.
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