Name: Constellation Brands Inc. (NYSE:STZ) | Analysis of Revenues
Creator: Stock Analysis on Net

Analysis of Revenues

Revenues as Reported

Revenues as Reported

Download chart

Constellation Brands Inc., income statement, revenues

US$ in thousands

12 months ended:	Feb 28, 2022	Feb 28, 2021	Feb 29, 2020	Feb 28, 2019	Feb 28, 2018	Feb 28, 2017
Beer	6,751,600)	6,074,600)	5,615,900)	5,202,100)	4,658,500)	4,229,300)
Wine	1,819,300)	2,208,400)	2,367,500)	2,532,500)	2,559,500)	2,739,300)
Spirits	249,800)	331,900)	360,100)	381,400)	367,000)	362,900)
Canopy	444,300)	378,600)	290,200)	48,600)	—)	—)
Consolidation and Eliminations	(444,300)	(378,600)	(290,200)	(48,600)	—)	—)
Net sales	8,820,700)	8,614,900)	8,343,500)	8,116,000)	7,585,000)	7,331,500)

Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).

Net sales exhibited a consistent upward trajectory from February 28, 2017, to February 28, 2022, increasing from US$ 7,331.5 million to US$ 8,820.7 million. This overall growth was primarily driven by the robust performance of the beer segment, which effectively offset declining revenues in the wine and spirits categories.

Beer Segment Performance: The beer business demonstrated uninterrupted growth throughout the analyzed period. Revenue rose from US$ 4,229.3 million in 2017 to US$ 6,751.6 million in 2022. This segment has become the dominant contributor to total net sales, showing a steady increase in annual contributions every year.
Wine and Spirits Trends: A sustained downward trend is observed in the wine segment, with revenues falling from US$ 2,739.3 million in 2017 to US$ 1,819.3 million in 2022. The spirits segment remained relatively stable until 2020, after which a notable decline occurred, dropping from a peak of US$ 381.4 million in 2019 to US$ 249.8 million by 2022. Together, these segments represent a shrinking portion of the company's revenue mix.
Canopy and Consolidation Dynamics: Canopy revenues appeared in 2019 and experienced rapid growth, increasing from US$ 48.6 million to US$ 444.3 million by 2022. However, these gains were entirely neutralized by corresponding values in consolidation and eliminations, which mirrored the Canopy figures as negative values. Consequently, the growth in the Canopy segment had no net impact on the final net sales figures.
Revenue Composition Shift: The structural composition of net sales has shifted significantly. In 2017, beer accounted for approximately 57.6% of net sales; by 2022, this share increased to approximately 76.5%. This indicates a strategic or market-driven pivot toward beer, as it now serves as the primary engine for top-line growth.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?