3Q24 Investor Update
For periods of acquisition, we define organic net sales as current period reported net sales less net sales of products of acquired
businesses reported for the current period, as appropriate. For periods of divestiture, we define organic net sales as prior period
reported net sales less net sales of products of divested businesses reported for the prior period, as appropriate. We provide
organic net sales because we use this information in monitoring and evaluating the underlying business trends of our core
operations. Wine and Spirits net sales are provided by channel and market categories as management uses this information to
monitor this business. In addition, we believe this information provides investors, financial analysts covering the Company,
rating agencies, and other external users ("our investors") valuable insight on underlying business trends and results and, in the
case of Wine and Spirits, the underlying composition of segment net sales and results, in order to evaluate year-over-year
financial performance.
Consolidated net sales
(1)
The divestiture impacting the periods below consists of the sale of certain mainstream and premium wine brands and related
inventory (the "Wine Divestiture") (sold October 6, 2022).
Wine Divestiture
Consolidated organic net sales
CONSTELLATION BRANDS, INC. AND SUBSIDIARIES
RECONCILIATION OF REPORTED AND ORGANIC NET SALES
Beer net sales
Wine and Spirits net sales (2)
Wine Divestiture
(1)
Wine and Spirits organic net sales
(2)
U.S. Wholesale
International (¹)
DTC
Other
Wine and Spirits net sales
(1)
Three Months Ended
November 30, November 30,
2023
2,470.9 $
2022
2,436.5
$
(in millions)
(unaudited)
$
2,470.9 $
1,968.5 S
502.4 $
502.4 $
$
Includes the impacts of the Wine Divestiture.
(3.7)
2,432.8
394.1 S
45.6
33.8
28.9
502.4 $
1,891.9
544.6
(3.7)
540.9
Wine and Spirits net sales by channel and market categories are as follows:
Three Months Ended
November 30, November 30,
2023
2022
Percent
Change
1%
444.5
2% $
50.9
27.3
21.9
544.6
Nine Months Ended
November 30, November 30,
2023
2022
7,822.6 $
4% $
(8%) $
(7%) $
Percent
Change
7,822.6 $
(11%) S
(10%)
24%
32%
(8%)
6,459.8 $
1,362.8 $
1,362.8 $
(1) For the periods September 1, 2022, through October 5, 2022, and March 1, 2022, through October 5, 2022, included in
the three months and nine months ended November 30, 2022, respectively.
7,454.8
(38.5)
135.9
62.5
55.8
1,362.8 $
7,416.3
5,929.4
1,525.4
(38.5)
1,486.9
Nine Months Ended
November 30, November 30,
2023
2022
1,108.6 $ 1,241.8
Percent
Change
5%
163.2
54.9
65.5
1,525.4
5%
9%
(11%)
(8%)
Percent
Change
(11%)
(17%)
14%
(15%)
(11%)View entire presentation