The company reported net sales of $2,470.9 million, operating income of $796.9 million and diluted earnings per share of $2.76 for the 3 months ended November 30, 2023. Comparable EPS was $3.19.

1. 01

   The company reported net sales of $2,470.9 million, operating income of $796.9 million and diluted earnings per share of $2.76 for the 3 months ended November 30, 2023. Comparable EPS was $3.19.

2. 02

   The company said its beer business net sales rose 4% to $1,968.5 million over the 3 months, and depletion volume grew 8.2%. It said beer operating margin increased 100 basis points to 38.5%.

3. 03

   The company set its fiscal 2024 full-year outlook for the wine and spirits business at an organic net sales decline of 7 to 9% and an operating income decline of 6 to 8%. It cited broader marketplace deceleration and U.S. wholesale underperformance as the factors.

4. 04

   The company said it raised its fiscal 2024 operating cash flow target to $2.6 to $2.8 billion and its free cash flow outlook to $1.4 to $1.5 billion. Its prior outlooks were $2.4 to $2.6 billion and $1.2 to $1.3 billion, respectively.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.