Cuervo Reports Growth in Q3, While Grappling with US Headwinds

Dear Client: Grupo Cuervo reported a global volume increase of 3.7%, with net sales up 0.9% for the third quarter ended September 30.  The company's 'other tequilas' (1800, Gran Centenario, Maestro Dobel) led the way in terms of performance, up double digits in both volumes and net sales in Q3. Indeed, volumes were up 14.5% and net sales were up 10.3% globally.  Meanwhile, Jose Cuervo volumes were up 1.4% and net sales were down 7.3%. Similarly, the 'other spirits' category