"Our portfolio posted industry-leading depletion growth in the 9 to 10 percent range for the first calendar quarter of 2017 after a challenging December for the U.S. beer industry," notes Constellation CEO Rob Sands.
The company's guidance also looks positive, including an expectation for beer business sales growth of 9% to 11% this fiscal year. EPS of $7.70 to $8.00 is expected for the full year vs. $7.51 consensus. Free cash flow of $725M to $825M is seen for the period.
Previously: Constellation Brands beats by $0.12, beats on revenue (April 6)