Constellation Beer Sales Jump 8.3% in Third Quarter
Shares of Constellation Brands stock jumped 3.5% in early trading Wednesday, after reported fiscal third-quarter profit and revenue that beat expectations and raised its full-year outlook.
Total sales rose to $2.00 billion from $1.97 billion and beer sales, led of course by Corona and Modelo Especial, increased 8.3% to $1.31 billion. Modelo was the portfolio leader with an increase in depletions of 14%. Wine and spirits sales fell 9.7% to $688.8 million but beat expectations of $649.4 million.
