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Constellation Brands, Inc. (NYSE: STZ ) announced its third quarter 2023 earnings results on Thursday, reporting a 5% increase in net sales.
Comparable earnings, which are adjusted for one-time items, fell to $2.83 per share in the third quarter from $3.12 per share last year. On an unadjusted basis, the company reported net income of $467.7 million or $2.52 per share, compared to net income of $470.8 million or $2.48 per share in the year-ago period. At $2.44 billion, third quarter net sales were up 5%.
Check out this space to read management/analyst commentary on Constellation Brands Q3 2023 earnings
“Our Beer business continued to outperform the market as the top share gainer for the sixth consecutive quarter. Our Wine and Spirits business furthered our strategy with our largest premium brands delivering significant growth above the category segment,” said Constellation Brands CEO Bill Newlands.
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