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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Anheuser Busch InBev SA NV | EU:ABI | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 58.06 | 57.30 | 58.20 | 0.00 | 00:00:00 |
From Mar 2020 to Mar 2025
Constellation Brands Inc. reported a 15% jump in first-quarter profit, as the alcoholic-beverage maker's Mexican beer segment continued to propel growth.
The company's Corona Extra and Modelo Especial brands have been particularly popular in the U.S., bolstering the company's sales as larger competitors like Anheuser-Busch InBev NV and MillerCoors LLC have recently struggled with declining volumes. In the latest period, beer sales rose 11%.
Citing those strong beer sales, the company lifted its full-year outlook. Constellation now expects per-share earnings of $4.80 to $5, up from its earlier view of $4.70 to $4.90.
Constellation projects beer sales growth of about 10%; for wine and spirits, a portfolio that includes brands like Robert Mondavi and Svedka, the company sees low to mid-single digit sales improvement.
The company announced Wednesday that it had reached a deal to buy wine brand Meiomi for about $315 million. The deal will add 3 cents to 4 cents a share to fiscal 2016 earnings, Consellation said.
In all for the first quarter, Constellation earned $238.6 million, or $1.18 a Class-A share, up from a year-earlier profit of $206.7 million, or $1.03 a share.
Excluding certain items, per-share profit grew to $1.26 from $1.07. Revenue increased 6.9% to $1.63 billion after excise taxes.
Analysts had anticipated $1.24 in earnings per share and $1.6 billion in sales.
Shares in the company, up about 19% this year, rose 2.2% premarket.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
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