Earnings

Constellation delivers beer profits, but weakness in wine prompts a downgrade

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.

Products You May Like

Articles You May Like

Athletic Brewing raises $50 million as nonalcoholic wave sweeps beer making
The right mix of retirement accounts can lower your future taxes, experts say — here’s what to know
Watch Fed Chair Jerome Powell testify live before Senate banking panel
Do You Live In A State That Won’t Be Taxing Your Retirement Income?
Boeing to plead guilty to criminal fraud charge stemming from 737 Max crashes

Leave a Reply

Your email address will not be published. Required fields are marked *