Constellation Brands releases fiscal year, Q4 results for 2018
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