Constellation Posts Strong Quarter Despite Supply and Seltzer Struggles

Dear Client: Constellation reported results for its fiscal Q2 yesterday (the three months ended August 31) and as usual, the numbers behind its beer business were solid. Net sales for Constellation beer grew 14% in the quarter. The company’s beer shipments also grew double digits (+11.7%) and its beer depletions jumped 7.3%. Modelo Especial recorded a massive 16% increase in depletions over the quarter, and Corona Extra wasn’t too shabby either, snagging a near 5% bump in depletion growth.  All