Daily Brew Apr 11, 2023
Constellation’s ‘unbelievably ambitious’ strategy is paying off
Constellation Brands pleased investors with its fourth quarter earnings, although sales at the beer and spirits company slightly missed analysts’ expectations. Constellation made adjusted earnings of US$1.98 per share, topping analysts’ expectations of US$1.82 per share. Significantly, despite the price rises it has pushed through already, Constellation said consumers had stuck to its premium beer brands including Modelo Especial and Corona Extra while demand for its premium and fine wines had also remained robust.