Constellation Reports Higher Revenues on Strong Corona and Modelo Sales
Posted on January 8, 2015
Constellation Brands is reporting higher revenues for its third quarter. The company has net sales growth of 7%. Net sales for the company's beer segment increased 16%.Rob Sands, president and CEO, Constellation Brands, said in a statement, "We achieved outstanding results for the third quarter driven by the exceptional on-going momentum for our beer business. This industry leading performance reflects the benefits of our marketing and brand building efforts, distribution growth for key brands, as well as excellent sales and distributor execution. Strong beer shipment volume performance is the primary driver of the upward revision to our EPS outlook for the year."
Sands says Modelo Especial, Corona Extra and Modelo Especial Chelada were some of its strongest selling beers.TheStreet reports that Constellation has had "unusual social activity" as of late.
CNN/Money calls the company a "diversified booze giant." Take a look: