STZ - Constellation Brands: Good News in the Bad News for Investors
2023-11-02 05:15:00 ET
Constellation Brands' (NYSE: STZ) wine and spirits business didn't put up the best results in the fiscal second quarter of 2024. And yet for investors interested in the company, there was still some notable good news. While beer is grabbing the most attention (and for good reason), before you give up on this company's wine and spirits, it's important to dig into the numbers just a little bit.
Constellation's second-quarter results benefited from sales problems hitting Anheuser-Busch InBev 's Bud Light. Indeed, Modelo Especial was a particular standout, with Constellation happily reporting that it was "the No. 1 brand share gainer and the No. 1 brand in the entire U.S. beer category in dollar sales." Overall, the company's beer business saw sales rise an impressive 12% year over year.
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Constellation Brands: Good News in the Bad News for Investors