
Constellation Brands is an international beverage alcohol company that produces beers, wines, and spirits. The company sells a number of brands in the import and craft beer categories including Corona, Modelo, and Pacifico and also owns a number of well-known spirit brands including SVEDKA Vodka, Casa Noble Tequila, and High West Whiskey. It is listed on the New York Stock Exchange and currently has a market capitalisation of $34.8 billion.
Q1 beat
Constellation Brands’ recent first-quarter results beat expectations. For the quarter, the company reported adjusted earnings per share (EPS) of $2.30 which was comfortably above the consensus forecast of $2.01. However, the results were not flawless. Due to coronavirus disruption, sales for the period were down 6%. Meanwhile, its investment in Canadian marijuana producer Canopy Growth generated a loss of $32 million.
Source: 2iQ Research