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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財年的展望，預計企業淨銷售增長爲4-6%，可比每股收益爲$13.60-$13.80。該公司預計在2025財年第二季度因其紅酒和烈酒部門確認15-25億的非現金商譽減值損失，這反映出美國批發市場持續的負面趨勢。啤酒部門保持強勁表現，預計淨銷售增長爲6-8%，經營收入增長爲11-12%。然而，紅酒和烈酒部門面臨挑戰，預計淨銷售下降爲6-4%，經營收入下降爲18-16%。公司指出，宏觀經濟逆風，特別是失業率上升，影響了消費需求。儘管面臨短期挑戰，星座品牌仍對實現雙位數的可比每股收益增長充滿信心。公司繼續執行其資本配置策略，包括實現~3.0倍的淨槓桿率目標，通過分紅派息和股票回購（上半年執行了44900萬）向股東返還現金，以及推進其啤酒業務的釀酒投資。
星座品牌更新了其2025財年的展望，預計企業淨銷售增長爲4-6%，可比每股收益爲$13.60-$13.80。該公司預計在2025財年第二季度因其紅酒和烈酒部門確認15-25億的非現金商譽減值損失，這反映出美國批發市場持續的負面趨勢。啤酒部門保持強勁表現，預計淨銷售增長爲6-8%，經營收入增長爲11-12%。然而，紅酒和烈酒部門面臨挑戰，預計淨銷售下降爲6-4%，經營收入下降爲18-16%。公司指出，宏觀經濟逆風，特別是失業率上升，影響了消費需求。儘管面臨短期挑戰，星座品牌仍對實現雙位數的可比每股收益增長充滿信心。公司繼續執行其資本配置策略，包括實現~3.0倍的淨槓桿率目標，通過分紅派息和股票回購（上半年執行了44900萬）向股東返還現金，以及推進其啤酒業務的釀酒投資。
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