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Constellation Brands | 8-K: Current report

Constellation Brands | 8-K: Current report

星座品牌 | 8-K：重大事件
美股SEC公告 ·  2024/09/03 21:06

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Constellation Brands has updated its fiscal 2025 outlook, projecting enterprise net sales growth of 4-6% and comparable EPS of $13.60-$13.80. The company expects to recognize a non-cash goodwill impairment loss of $1.5-2.5 billion in Q2 FY25 for its Wine and Spirits segment, reflecting continued negative trends in the U.S. wholesale market.The Beer segment maintains strong performance with projected net sales growth of 6-8% and increased operating income growth of 11-12%. However, the Wine and Spirits segment faces challenges, with expected net sales decline of 6-4% and operating income decline of 18-16%. The company cites macroeconomic headwinds, particularly rising unemployment, affecting consumer demand.Despite near-term challenges, Constellation remains confident in delivering double-digit comparable EPS growth. The company continues to execute its capital allocation strategy, including achieving a ~3.0x net leverage ratio target, returning cash to shareholders through dividends and share repurchases ($449 million executed in H1), and advancing brewery investments in its Beer Business.
Constellation Brands has updated its fiscal 2025 outlook, projecting enterprise net sales growth of 4-6% and comparable EPS of $13.60-$13.80. The company expects to recognize a non-cash goodwill impairment loss of $1.5-2.5 billion in Q2 FY25 for its Wine and Spirits segment, reflecting continued negative trends in the U.S. wholesale market.The Beer segment maintains strong performance with projected net sales growth of 6-8% and increased operating income growth of 11-12%. However, the Wine and Spirits segment faces challenges, with expected net sales decline of 6-4% and operating income decline of 18-16%. The company cites macroeconomic headwinds, particularly rising unemployment, affecting consumer demand.Despite near-term challenges, Constellation remains confident in delivering double-digit comparable EPS growth. The company continues to execute its capital allocation strategy, including achieving a ~3.0x net leverage ratio target, returning cash to shareholders through dividends and share repurchases ($449 million executed in H1), and advancing brewery investments in its Beer Business.
星座品牌更新了其2025财年的展望，预计企业净销售增长将达到4-6%，可比每股收益预计在13.60美元至13.80美元之间。公司预计在2025财年第2季度，其红酒和烈酒部门将确认一项150亿至250亿的非现金商誉减值损失，反映出美国批发市场持续的负面趋势。啤酒部门保持强劲表现，预计净销售增长为6-8%，经营收入增长为11-12%。然而，红酒和烈酒部门面临挑战，预计净销售将下降6-4%，经营收入将下降18-16%。公司提到，宏观经济逆风，特别是失业率上升，影响了消费需求。尽管面临短期挑战，星座品牌对实现两位数的可比每股收益增长依然充满信心。公司继续执行其资本配置策略，包括实现大约3.0倍的净杠杆率目标，通过分红派息和股份回购（上半年已执行44900万美元）向股东返还现金，并推进其啤酒业务的酿酒厂投资。
星座品牌更新了其2025财年的展望，预计企业净销售增长将达到4-6%，可比每股收益预计在13.60美元至13.80美元之间。公司预计在2025财年第2季度，其红酒和烈酒部门将确认一项150亿至250亿的非现金商誉减值损失，反映出美国批发市场持续的负面趋势。啤酒部门保持强劲表现，预计净销售增长为6-8%，经营收入增长为11-12%。然而，红酒和烈酒部门面临挑战，预计净销售将下降6-4%，经营收入将下降18-16%。公司提到，宏观经济逆风，特别是失业率上升，影响了消费需求。尽管面临短期挑战，星座品牌对实现两位数的可比每股收益增长依然充满信心。公司继续执行其资本配置策略，包括实现大约3.0倍的净杠杆率目标，通过分红派息和股份回购（上半年已执行44900万美元）向股东返还现金，并推进其啤酒业务的酿酒厂投资。
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