Constellation FY17 Exceeds Expectations: Beer Revenues up 17%, Depletions up 10%

Dear Client:Constellation's fiscal 2017 results just hit. Safe to say they surpassed most expectations.The company's beer business grew net sales by a whopping 17% for the year. Constellation said 13% of that constituted organic growth "driven primarily" by volume growth and pricing; there's also the Ballast acquisition benefit.For fiscal Q4 alone, net sales for beer increased 11%, which Constellation attributed to a 10% jump in organic net sales due to volume growth and favorable pricing.Beer operating income was up 21%