At the end of this week, Constellation Brands releases results for the third quarter of its fiscal-2018 as well as for the nine months to the end of November. Here’s a look at the events that shaped the three months of Q3 for the group.
- The third quarter started for Constellation with the announcement of results for the first half of the fiscal year. Sales in the six months rose by 7%, with the top-line improving by 8% year-on-year in the second quarter, the three months to the end of August. See below for further details of how the fiscal year has played out so far for Constellation.
- In a conference call following the publication of the numbers, CEO Rob Sands provided further details of the group’s broader roll-out of Corona Premier in the US. The low-carbohydrate variant will hopefully ride the wave led by Anheuser-Busch InBev’s Michelob Ultra in the country. AB InBev’s low-carb brew posted a double-digit volumes leap in the third quarter of 2017.
- Also in October, Constellation readied a switch of general counsel. As of 1 December, Jim Bourdeau has assumed the position, with retiree Tom Mullin set to remain with the group until the end of next month.
- Dominating the third quarter, however, was the announcement at the end of October of Constellation’s stake purchase in Canadian medicinal cannabis producer Canopy Growth Corp. The US$191m transaction gave us an easy answer to our question: Is cannabis here to stay?
Constellation Brands Fiscal-2018 – Sales-to-date versus 2017
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| 2017 | 2018 | |
| Fourth Quarter | 1628 | null |
| Third Quarter | 1810.5 | null |
| Second Quarter | 2021.2 | 2084.5 |
| First Quarter | 1871.8 | 1935.5 |
Source: Company results
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