Reported 12 months ago
Constellation Brands, the maker of Corona beer, reported strong first quarter results with net sales growing 5.8% to $2.66 billion, led by a rise in beer sales by 8% to $2.3 billion, offsetting a decline in wines and spirits sales. The beer business experienced a 6.4% volume growth, leading to improved margins and a significant jump in profit to $877 million. The company raised its earnings outlook for the full fiscal year, citing the success of its beer division in driving sales and profitability.
Source: YAHOO