Constellation Brands (NYSE:STZ) reported its Q1 earnings results on Friday, with EPS of $3.04 coming in better than the Street estimate of $2.83. Revenue was $2.52 billion, compared to the Street estimate of $2.47 billion.

The company provided its full 2024-year outlook, expecting EPS to be in the range of $11.70-$12.00, compared to the Street estimate of $11.62.

In response to the report, RBC Capital analysts expressed confidence in the company, stating that they believe it has the potential to achieve a compound annual growth rate of 7-9% in its beer top line over the next three years.