Constellation Brands Sees FY Beer Sales Growth To Be 7%-8%

(RTTNews) - Constellation Brands Inc. (STZ) said that it expects beer sales growth for fiscal year 2021 to be 7%-8% including the impact of the Ballast Point divestiture and annual organic net sales growth of 8%-10%.

In Wine and Spirits segment, the company expects net sales and operating income for fiscal year 2021 to be down about 30% to 35%, respectively; It retained Power Brand portfolio.

Fiscal 2021 earnings per share guidance is unavailable at this time due to potential impacts on the business from COVID-19. However, the company sets forth management's pre-COVID-19 business expectations for fiscal 2021 compared to fiscal 2020 actual results.

The company declared a quarterly cash dividend of $0.75 per share of Class A Common Stock and $0.68 per share of Class B Common Stock, payable on May 19, 2020, to stockholders of record as of the close of business on May 5, 2020.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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