Constellation Beer Depletions Up 10.7%

Dear Client:In just-released Constellation Beer FY '17 Q3 earnings (three months to Nov. 30), beer net sales were up 16%. About 12% of that constituted organic growth, stemming from volume growth, pricing and Ballast acquisition benefit. Recall that the prior quarter had seen a 20% jump for beer net sales.Beer gross profit was up 23% for the quarter.Beer shipments volume for the quarter were up 12.3% (slightly below the 9-month trend of +14%), with organic shipments up 10.3%. Depletions were