The price of beer in Mexico will increase significantly. One of the reasons is that Constellation Brands has decided to increase its annual profit target following price increases and in the face of strong demand for spirits and alcoholic beverages. In this way, Constellation Brand aims to reach its new annual revenue goals in Mexico.
Following the announcement, shares of the Rochester, New York-based company fell 1.9% in early trading. In addition, although its Modelo Especial, Corona and high-end brands such as Meiomi and Kim Crawford maintained their demand in the face of lower consumption in the United States due to inflation, its overall wine business suffered from lower demand.
Nevertheless, Constellation’s forecasts are optimistic. The company expects to achieve fiscal 2024 earnings per share of $12.00 to $12.20, compared to its previous forecast of $11.70 to $12.00 per share. Finally, Constellation’s quarterly sales increased by 7%, resulting in a profit of nearly US$2.84 billion.
Coca-Cola announces price increase
CONSTELLATION TO EXPAND PRODUCTION
CONSTELLATION BRANDS APPOINTS HOLLY LUKAVSKY SENIOR VICE PRESIDENT, HUMAN RESOURCES, BEER DIVISION
CONSTELLATION BRANDS ANNOUNCES PLAN TO CONVERT COMMON STOCK TO CANOPY GROWTH
CONSTELLATION BRANDS EXPANDS BEVERAGE PORTFOLIO WITH NEW PREMIUM CANNED FRESCA™ MIXED COCKTAIL
CONSTELLATION BRANDS ACQUIRES AUSTIN COCKTAILS
IRN-BRU MANUFACTURER ANNOUNCES PRICE INCREASES DUE TO INFLATION
CONSTELLATION BRANDS REACHES AGREEMENT WITH COCA-COLA TO INCORPORATE THE FRESH BRAND IN ALCOHOLIC BEVERAGES
