Constellation Brands: shares up after strong second quarter.

(CercleFinance.com) - Shares of Constellation Brands are up 4% on Thursday after the alcoholic beverage company reported higher second quarter FY 2018 results.


The maker of Clos du Bois wine and importer of Corona Extra beer said net income reached 499.5 million dollars, or 2.58 dollars per share, in the quarter to 31 August, up from 358.9 million dollars, or 1.81 dollar per share, a year ago.

The company said Q2 sales reached 2.3 billion dollars, compared with 2.2 billion dollars in the same period of 2016.

“Our second quarter results are a testament to the fact that our total beverage alcohol strategy is paying off", CEO Rob Sands said.

"We are reaping the benefits of our wine and spirits premiumization efforts", he added.

Constellation shares were up 4% at 209.2 dollars on the New York Stock Exchange after theses numbers were released.


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