Not Bad: Constellation Beer Q3 Results See Low Single Digit Declines

Dear Client:  Constellation third quarter results (three months ended Nov. 30) saw low-single digit declines for its Beer Business, a continued pressured trend from the last couple of quarters vs. the Constellation Beer of the prior decade. But in this environment, it could surely have been worse. Net sales for the beer business were down 1%, “driven by a 2.2% decline in shipment volumes,” but partially offset by pricing. Depletions were down 3%. This was all in line with, or