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Constellation Brands beats on earnings as Modelo-fueled beer momentum continues

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Revenue growth was driven by demand for its Modelo Especial and Modelo Chelada brands as well as Corona Extra.

The Mexican beer powerhouse, owner of the Modelo Especial and Corona Extra brands, reported double-digit sales growth in its beer business as the division continues to dominate the overall beer and high-end categories. Meanwhile sales of wine and spirits lagged.

‘Buyer beware.' Anyone can call themselves a tax preparer. Here's how to find a qualified professional The division wasn't without its standout brands, though: Constellation's Meiomi and Kim Crawford wine brands saw 7% and 6% depletion growth, respectively, while its craft spirit, Mi Campo tequila, reported more than 60% depletion growth.

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Constellation Brands earnings top estimatesCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
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What to expect when beer king Constellation Brands reports earnings Thursday morningWe're bullish on Constellation Brands (STZ) ahead of its earnings print, even as consumers are pressured in a tough economy.
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