Reported 12 months ago
Constellation Brands reported a significant increase in first-quarter profit and raised its full-year guidance due to higher beer sales, despite a decline in wine and spirits sales. The company's Modelo Especial remained the top-selling beer in the U.S., driving beer sales up by 8.3%. Constellation Brands now anticipates full-year EPS of $14.63 to $14.93, up from its previous forecast of $13.40 to $13.70. While beer sales flourished, wine and spirits sales saw a decrease of 6.6%.
Source: YAHOO