Corona Hard Seltzer, born in a pandemic, a bright spot for Constellation Brands' second quarter [Financial Post (Toronto, Ontario, Canada)]
Constellation Brands, Inc. (STZ)
Last constellation brands, inc. earnings: 4/3 07:30 am
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Source: Financial Post
U.S.-based alcohol giant Constellation Brands Inc. reported a decline in year-over-year sales for its fiscal second quarter on Thursday, but saw bright spots in growing sales at the retail-level, especially for its Corona Hard Seltzer brand. Net sales for the beer and wine maker fell to US$2.2 billion, a four per cent decrease from last year’s second-quarter sales of US$2.3 billion. On a per-share-basis, the company reported a gain of US$2.62. Earnings, adjusted for non-recurring costs, were US$2.76. Net beer sales remained mostly unchanged year over year, staying at US$1.6 billion, where Modelo Especial — one of its most popular brands — brought in 11 per cent of sales, CEO Bill Newlands said in the quarterly earnings call. Pot companies bet on cannabis beverage boom in U.S. amid legalization hopes Corona beer vs. coronavirus: Why ‘doing nothing’ about flurry of absurd memes connecting the two may be Constellation’s best bet Canopy Growth picked a bad time to delay the launch of its
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