Constellation Brands boosted its adjusted earnings forecast for 2020 after strong demand for beer, particularly its Modelo brand and higher-end Corona offerings, helped the company top Wall Street’s quarterly sales estimates. That helped push shares up almost 14 per cent in early trade on Friday, as investors looked past a decline in wine and spirits sales and a swing to a net loss for the first quarter.
Constellation Brands boosted its adjusted earnings forecast for 2020 after strong demand for beer, particularly its Modelo brand and higher-end Corona offerings, helped the company top Wall Street’s quarterly sales estimates. That helped push shares up almost 14 per cent in early trade on Friday, as investors looked past a decline in wine and spirits sales and a swing to a net loss for the first quarter.
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