Investors were optimistic heading into Constellation Brands‘ (NYSE: STZ) recent earnings report. The alcoholic-beverage giant’s business had taken a hit from the COVID-19 pandemic, but its popular imported beer brands helped it grow through 2020 even as the major beer giants reported shrinking volumes.
Constellation Brands added plenty of fuel to that bullish investing thesis on Thursday. Let’s take a closer look.
Investors had been expecting continued market-share gains in the booming beer segment following last quarter’s success, with brands like Modelo and Corona outpacing franchises from Anheuser-Busch InBev and Molson Coors. But Constellation Brands achieved a higher level of competitive success here.