Reported 12 months ago
Constellation Brands, the maker of Corona and Modelo beers, reported fiscal Q1 earnings that surpassed profit estimates but fell slightly short of revenue expectations. The growth was mainly driven by a strong demand for beer, particularly the Modelo Especial brand, showing an 8% year-over-year increase in sales and 6.4% volume growth. Analysts like Filippo Falorni from Citi noted the success of Constellation Brands' innovations, including low-calorie drinks and spirit offerings, ahead of summer holidays and sporting events, which historically contribute about 20% to the company's sales growth per year.
Source: YAHOO