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Constellation delivers on beer, but wine weakness prompts downgrade
- by admin
- Posted on July 3, 2024
Bottles of Corona, Modelo and Pacifico beer are displayed on the a shelf at a supermarket on April 6, 2017 in San Rafael, California.
Justin Sullivan | Getty Images
Constellation Brands reported an earnings beat on Wednesday that was driven by strength in its beer business. However, shares fell 4% after an initial move up, as investors — including us — remain troubled by continued weakness in the wines and spirits business.
Constellation Brands reported an earnings beat on Wednesday that was driven by strength in its beer business. However, shares fell 4% after an initial move up, as investors — including us — remain troubled by continued weakness in the wines and spirits business. Comparable net sales for the three months ended May 31 increased 6%…