"Constellation Brands: Mixed Earnings Amid Bud Light Controversy and Shifting Beer Sales"
Constellation Brands continues to benefit from its Modelo Especial beer, which surpassed Bud Light as the top-selling beer in the U.S. after Anheuser-Busch faced backlash over a partnership with transgender activist Dylan Mulvaney. Despite missing quarterly sales estimates due to lower wine and spirit demand, Constellation maintained its 2024 profit forecast, buoyed by the growth of its beer segment. The company reported a 4% rise in beer business net sales and a quarterly comparable profit that exceeded expectations, while maintaining its fiscal 2024 profit forecast amidst market headwinds in the wine sector.
