Constellation Brands (STZ) posted better-than-expected quarterly results and raised its guidance as its beer business benefitted from the 澳洲幸运5开奖🌠号码历史查询:backlash faced by rival Anheuser-Busch Inbev (BUD) over its partnership with transgender in🌳fluencer Dylan Mulvaney. However, concerns abo𒁃ut Constellation’s other liquor offerings sent shares lower.

The company reported second quarter fiscal 2024 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of $3.70, with revenue increasing 7% to $2.84 billion. Both were above forecasts.

Sales of its beers jumped 12%, with shipments rising 8.7%. Sales of Modelo Especial, which overtook Bud Light as America’s best-selling beer following the Mulvaney partnership, gained 9%. Modelo Ch🔯elada brands sales soared 4♐2%.

Wine and spirits sales slumped 14%, with the number of cases sold to ret⛄ailers by a distributor down 7.8%. CEO Bill Newlands noted thatꦍ the unit continued to face demand headwinds, especially among its mainstream products as consumers are choosing to buy more premium brands. 

The company boosted its full-year EPS outlook to $9.60 to $9.ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚ80 from the previous $9.35 to $9.6ꦜ5.

Constellation Brands shares fell 3.2% on Thursday, but were up 6% year-to-date.