Constellation Brands (STZ) on Wedn🌌esday report🌄ed a big jump in first-quarter profit and lifted its full-year guidance on higher beer sales, but wine and spirits sales fell.

The company reported first-quarter fiscal 2025 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $4.78, well above the $3.45 consensus estimate of analysts compiled by Visible Alpha and last year's figure of $0.74. Revenue was up 5.8% year-over-year to $2.66 billion, a tick below forecasts.

Modelo Especial Leads Beer Sales Higher

Beer sales rose 8.3% to $2.27 billion, boosted by a gain of 7.6% in shipment volumes, as well as cost-savings initiatives. Demand for Modelo Especial continued to grow, with Constellation noting it had the most dollar sales of any brand in the U.S. Modelo Especial overtook Anheuser-Busch InBev’s (BUD) Bud Light as the country’s best-selling beer 澳洲幸运5官方开奖结果体彩网:last year following a controversy over AB InBev’s relation🅷ship with transgender influencer Dylan Mulvaney.  

澳洲幸运5官方开奖结果体彩网:Chief Financial Officer (CFO) Garth Hankinson said the “consistent top-line growth and cost savings actions of our Beer Business drove strong 澳洲幸运5官方开奖结果体彩网:operating income and 澳洲幸运5官方开奖结果体彩网:cash flow generation.”

While the beer business flourished, sales of wine and spirits declined 6.6% to $389 million, as shipment volumes slipped 5.1%. The company explained that the segment "continues to face challenging market conditions, primarily in the U.S. wholesale channel across most price segments in the wine category." 

Constellation Brands now expects full-year EPS of $14.63 to $14.93, up from its previous outlook of $13.40 to $13.70.

Constellation Brands shares edged lower to $258.01 as of 10:40 a.m. ET Wednesday. They are 6.7% higher year-to-date.