This was not the quarter we were looking for — and unfortunately, we see little reason to defend Constellation brands.
Constellation Brands put up such disappointing quarterly results before Friday's opening bell that we're having second thoughts about whether the beer, wine and spirits stock still belongs in the portfolio. Net sales for the three months ended Nov. 30 were largely flat year over year, coming in at $2.46 billion, missing the $2.53 billion expected, according to analysts' estimates compiled by LSEG. Adjusted earnings per share of $3.
Cases of beer from Corona and Modelo on display at a BevMo store in San Rafael, California, on Jan. 5, 2024.put up such disappointing quarterly results before Friday's opening bell that we're having second thoughts about whether the beer, wine and spirits stock still belongs in the portfolio.
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