Constellation Brands Stock News

Constellation Brands beat Wall Street's quarterly earnings and revenue expectations. While beer sales rose, underlying indicators of demand showed consumer willingness to spend is still tepid.

Famed investor Jim Cramer has a “perfectly plausible explanation” for why Constellation Brands (STZ) shares initially slipped on Q2 earnings but has turned green again this morning. The alcoholic beverage specialist recorded $3.74 per share of earnings (EPS) on $2.63 billion sales late on October 6 – both comfortably ahead of Street estimates.

Constellation Brands Inc (NYSE:STZ), the beverage company behind Modelo Especial and Corona, beat second-quarter estimates as stronger beer sales and growing wine and spirits demand helped offset a softer alcohol market. Net sales rose 6% to $2.63 billion in the quarter ended August 31, while comparable operating income increased 1% to $897 million and comparable earnings rose 3% to $3.74 a share.

Stock futures are lower this morning after the S&P 500 and Nasdaq closed at record highs yesterday; the Federal Reserve is due to release the minutes of last month's policy meeting; Constellation Brands shares are sinking after the beer and spirits maker reported results; SpaceX is reportedly looking to raise $40 billion to buy more Nvidia chips; and crypto-related stocks are falling alongside ...

Constellation Brands signals weak demand for two flagship beer brands, while Intel rises after Elon Musk downplays TSMC's role in Terafab.

Constellation Brands beat second-quarter estimates for profit and sales on Tuesday, as resilient demand for its beer such as Modelo ​Especial and Victoria helped offset challenges facing the alcohol industry ‌in a soft spending environment.

Sales in Constellation's beer business, which includes Corona and Modelo, rose 5%, while its wine and spirits business saw sales increase 17%.