Modelo still the largest driver for Constellation beer sales
01/05/2024 23:02
Constellation Brands' (STZ) — the parent company of beer brands Modelo and Corona, alongside other alcohol products — overall sales figures fell below expectations as outlined in its fiscal third-quarter earnings results. Citi Vice President of Equity Research Filippo Falorni examines Constellation's beer sales growth linked to its line of Modelo drinks. "The Modelo Especial brand is the largest brand in the beer division, that grew depletions — which is a measure of volumes — about 12%. Overall, the beer segment grew 8.2% depletions, which was above what the consensus was expecting," Falorni explains to Yahoo Finance. "Again, driven mainly by Modelo Especial, but also strong results in the other brands, like Pacifico growing 19%, Modelo Chelada growing 22%." Falorni also comments on the market share opportunities for Constellation as Anheuser-Busch InBev (BUD) faltered under 2023 boycotts. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
Constellation Brands' (STZ) — the parent company of beer brands Modelo and Corona, alongside other alcohol products — overall sales figures fell below expectations as outlined in its fiscal third-quarter earnings results.
Citi Vice President of Equity Research Filippo Falorni examines Constellation's beer sales growth linked to its line of Modelo drinks.
"The Modelo Especial brand is the largest brand in the beer division, that grew depletions — which is a measure of volumes — about 12%. Overall, the beer segment grew 8.2% depletions, which was above what the consensus was expecting," Falorni explains to Yahoo Finance. "Again, driven mainly by Modelo Especial, but also strong results in the other brands, like Pacifico growing 19%, Modelo Chelada growing 22%."
Falorni also comments on the market share opportunities for Constellation as Anheuser-Busch InBev (BUD) faltered under 2023 boycotts.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.