5 Companies in Focus After Posting Their Financial Results

1. Constellation Brands, Inc. (NYSE:STZ)

Number of Hedge Fund Holders: 48

Shares of Constellation Brands, Inc. (NYSE:STZ) rose nearly five percent on Thursday, April 7, 2022, after delivering impressive financial results for its fiscal fourth quarter. The beer and wine retailer reported adjusted earnings of $2.37 per share, up from $1.82 per share in the year-ago period. Analysts were looking for earnings of $2.09 per share.

In addition, Constellation Brands, Inc. (NYSE:STZ) posted revenue of $2.1 billion, up 8 percent on a year-over-year basis and higher than analysts’ average estimate of $2.02 billion. If we look at the performance of its flagship businesses, beer sales jumped 14 percent to $1.6 billion, while wine and spirits sales decreased 7 percent to $536.8 million in the quarter.

Speaking on the results, CEO of Constellation Brands, Inc. (NYSE:STZ), Bill Newlands, said:

“Driven by a relentless focus on building brands consumers love, our business continues to gain momentum. Despite various headwinds, we extended our leadership position in the high-end of the U.S. beer market, our high-end wine and spirits brands continue to outpace the industry complimented by successful innovation, we continue to invest aggressively in our core business, and we’ve set a strong foundation for future growth.”

You can also take a peek at 10 Blue Chip Stocks with Dividends and 10 Undervalued Dividend Kings To Buy In 2022.

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