News Formal

Corona maker Constellation Brands tops quarterly profit estimates on strong beer business

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 12 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 43%
  • Publisher: 92%

Company News

Share,Demand,Cent

Constellation Brands reported a comparable profit of $3.57 per share for the quarter ended May 31, beating analysts’ estimates of $3.46 per share, as per LSEG data

on Wednesday beat Wall Street estimates for first-quarter profit, helped by strong demand for its core beer brands, which offset the sluggish wines and spirits business.

The company has seen persistent demand for its core beer brands, including Modelo Especial and Pacifico, although its wines and spirits business, along with the broader consumer industry, saw a slowdown in the United States.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

June jobs report, Constellation Brands earnings: What to watchJosh Lipton and Julie Hyman break down the key events of the upcoming trading week. The Bureau of Labor Statistics (BLS) will release the June jobs report on...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Constellation Brands earnings, June FOMC minutes: What to watchJosh Lipton and Seana Smith break down what to watch on Wednesday, July 3rd. The Federal Reserve will release the minutes from its June Federal Open Market...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »