Constellation Shipments Back on Track in Q1

Dear Client: With Modelo Especial taking the top spot for beer dollars in scans the last few weeks, many were eager to see how earnings would look for Constellation.  Now we know. Overall, Constellation Beer shipments did a lot better in their just-reported Q1 quarter, at up 7.5% (against a tough prior year comparison of +17%). Note, last quarter, shipments were down a bit more than 5%. Depletions were up 5.5% (again, on a tough comp of up roughly +9%).