Boosted by Beer Demand, Constellation Brands Q1 Profits Exceed Expectations

Glonghui, July 1｜Constellation Brands announced its first-quarter results: net sales fell by 3.3% year-on-year to $2.43 billion, surpassing analysts’ expectations of $2.39 billion; earnings per share were $3.43, also beating the expected $3.20. The company’s main source of income, the beer business, saw its quarterly net sales rise by 2% year-on-year to $2.28 billion. The wine and spirits business recorded an 8% organic net sales growth year-on-year this quarter. The company reiterated its forecast for adjusted earnings per share for fiscal year 2027 in the range of $11.2 to $11.9.