Constellation Beer Does It Again in Q1 ’25

Dear Client:  Constellation Beer pulled out another solid earnings showing. Q1 '25 shipments were up 7.6% in the quarter, while depletions were up 6.4%, excluding the impact of the craft beer divestitures in fiscal 2024. Net sales were up 8%. (The year ago comp wasn't terribly tough, at least for Constellation Beer, with depletions up 5.5%, shipments up 7.5%, and net sales up 11%.)   The company attributed depletion trends to the regular band of growing brands across “most” of their