Constellation Brands (NYSE:STZ) may have investors raising a glass when it reports quarter earnings ahead of the opening bell on October 5, 2023.
The alcoholic beverages maker is expected to report a 7.3% rise in revenue for the quarter to $2.85 billion, according to Zacks Consensus Estimate.
Earnings per share are likely to improve by 6.6% to $3.38.
Constellation Brands produces beverages that include Corona Extra, Modelo Especial, and Robert Mondavi wines.
During its first quarter, its beer business delivered 11% year-over-year net sales growth, driven primarily by the continued momentum of the Modelo brand family
According to Zacks, it is expected to have benefitted from continued growth in the beer business, as well as strong demand for its premium, high-end products.
Ahead of its results, the company’s shares traded 0.3% higher at $252.26 shortly after noon on Friday.
The company is a leading international producer and marketer of beer, wine, and spirits with operations in the US, Mexico, New Zealand, and Italy.
Contact the author at stephen.gunnion@proactiveinvestors.com