Constellation Brands Q2 Earnings: Beer Shines, Wine Struggles

Constellation Brands (STZ -2%) reported mixed results for Q2, with its beer segment thriving while the wine and spirits division faced challenges. The company's beer business saw increased sales and shipment volumes, capturing more market share and resulting in a double-digit earnings beat and revenue growth. Conversely, STZ's wine and spirits segment struggled, experiencing a 12.0% sales decline and a 9.8% drop in shipment volumes due to tough macroeconomic conditions. This led to a $2.25 billion goodwill ...