Constellation Brands Inc., Victor, N.Y., announced 2018 fiscal year and fourth quarter results for the period ending Feb. 28, 2018. The company posted consolidated net sales of more than $7.5 billion, with reported growth of 3 percent. Fourth quarter net sales were more than $1.7 billion, with a reported growth of 8 percent.
In fiscal year 2018, beer (branded product, 24-pack, 12-ounce case equivalents) posted net sales of more than $4.6 billion, a 10.1 percent incease from last year. Beer, in the fourth quarter, accounted for $997.2 million of the company’s sales, an 11.9 percent change from last year.
Constellation’s Beer portfolio was a top growth contributor to the U.S. beer market with all import brand families achieving record-level volume, it says.
The wine and spirits segment (branded product, 9-liter case equivalent) accounted for $2.9 billion in total net sales for the 2018 fiscal year, a 5.7 percent increase from the prioryear period. In the fourth quarter, wine and spirits generated net sales of $768.7 million, a 4.3 percentagepoint change.
Excluding its Canadian wine business divestiture, the wine and spirits business generated net sales and operating income growth of 5 percent and 7 percent, respectively, the company states.
Overall, for fiscal 2018, Constellation Brands generated record operating cash flow of more than $1.9 billion and $874 million of free cash flow. BI