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Constellation Brands: Q1 EPS above expectations

( - Constellation Brands has reported Q1 2020-21 EPS that is up 4% at 2.
30 dollars on a comparable basis (2.44 excluding excluding Canopy), which exceeded the consensus by over 20 cents.

Again on a comparable basis, the US alcoholic beverage group (brands include Corona beer) saw its operating profit slip 1% to 691 million dollars, with sales down 6% to 1.96 billion dollars.

In addition, Constellation Brands has announced the acquisition of Empathy Wines, a wine brand that strengthens its position in the direct-to-consumer and e-commerce markets in this segment.

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