Constellation Brands, Inc. Provides Fiscal Year 2021 Guidance
January 07, 2021 at 11:30 am EST
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Constellation Brands, Inc. provided fiscal year 2021 guidance. For the year, the company, expect net sales growth of 7% to 9%, which includes 1 to 2 points of pricing within Mexican product portfolio. Excluding the impact of Ballast Point, The company expects organic net sales to land in the higher end of the 7% to 9% range. The company now expect fiscal 2021 operating income growth of 8% to 10%, which is an increase versus prior guidance provided during the quarter. Furthermore, The company expects full year operating margin to range between 40% and 41%, achieving margin expansion versus prior year operating margin of 40%. EPS guidance and are projecting comparable basis diluted EPS to range between $9.80 and $10.05. This range excludes future Canopy equity in earnings impact and accounts for the respective timing of the previous mentioned deal closures.
Constellation Brands, Inc. is one of the leading American producers of wines, spirits and beers. Net sales (before intra-group eliminations) break down by family of products as follows:
- beer (76.2%): Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico and Victoria brands;
- wines (17.6%): Robert Mondavi, Simi, Mark Xest, Kim Crawford, Estancia, Clos du Bois, Black Box brands, etc.;
- spirits (2.7%): Svedka Vodka, Casa Noble and High West brands;
- other (3.5%).
The United States account for 97.3% of net sales.