Constellation Brands, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended November 30, 2021
January 06, 2022 at 01:26 pm
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Constellation Brands, Inc. reported earnings results for the third quarter and nine months ended November 30, 2021. For the third quarter, the company reported sales was USD 2,507 million compared to USD 2,643.7 million a year ago. Revenue was USD 2,320.6 million compared to USD 2,438.1 million a year ago. Net income was USD 470.8 million compared to USD 1,280.9 million a year ago. Diluted earnings per share from continuing operations was USD 2.48 compared to USD 6.55 a year ago.
For the nine months, sales was USD 7,260.3 million compared to USD 7,235.1 million a year ago. Revenue was USD 6,718.2 million compared to USD 6,661.9 million a year ago. Net loss was USD 435.8 million compared to net income of USD 1,615.1 million a year ago.
Constellation Brands, Inc. is one of the leading American producers of wines, spirits and beers. Net sales (before intra-group eliminations) break down by family of products as follows:
- beer (76.2%): Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico and Victoria brands;
- wines (17.6%): Robert Mondavi, Simi, Mark Xest, Kim Crawford, Estancia, Clos du Bois, Black Box brands, etc.;
- spirits (2.7%): Svedka Vodka, Casa Noble and High West brands;
- other (3.5%).
The United States account for 97.3% of net sales.