Constellation Brands Tops Q2 Estimates on Beer Demand
Constellation Brands (STZ) surpassed second-quarter profit and sales expectations, driven by strong demand for its beer brands like Modelo Especial and Victoria. The company noted resilient demand despite broader challenges in the alcohol industry and a soft spending environment.
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09:31:15 PM UTC
SquawkNews
By Katherine HamiltonConstellation Brands logged higher profit and revenue in the fiscal second quarter, as strong beer sales at bars and restaurants made up for slower sales in grocery and liquor stores.The beer company on Tuesday posted a profit of $565.8 million, or $3.32 a share, compared with…