On Thursday, Constellation Brands will release its third-quarter and year-to-date results. Here, just-drinks takes a look at the beer, wine and spirits firm’s movements in its latest quarter:
- In early September, the company completed its acquisition of Casa Noble Tequila.
- A month later, Constellation announced it is planning to raise capacity at its Corona brewery in Mexico, and intends to purchase nearby facilities from Anheuser-Busch InBev, to be run in conjunction with Owens-Illinois.
- At the same time, it emerged that a glass bottle recall for Corona Extra had cost Constellation an estimated US$9m.
- In late October, the firm announced the public placing of US$800m-worth of senior notes.
In Constellation’s H1 results:
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- Profits on reported basis fell by 74.5% to US$402.5m
- Sales in six months to end of August jumped by 46.7% to $3.13bn
- Operating profits slid by 55.8% to $770.9m
In the company’s Q1:
- Net profits soared 290% to US$206.7m
- Sales in three months to the end of May doubled, up 126.6% to $1.53bn
- Operating profits rose by 456% to $392.2m
