Constellation Brands Q1 Report 2025
“Our Beer Business continued to achieve strong volume growth well above that of its category and total Beverage Alcohol. This outstanding performance supported the second largest dollar share gain within the broader Beverage industry and reinforced our significant growth outperformance relative to the entire CPG sector. Our Wine and Spirits Business is making good progress against the operational and commercial execution initiatives identified in Q4 of Fiscal ’24 to support its trajectory toward this year’s guidance. All in, we continue to make progress and remain focused on our Fiscal ’25 outlook.” Bill Newlands
Highlights
- Our Beer Business achieved a solid 8% net sales increase bolstered by a 7.6% rise in shipment volumes.
- Depletion volume had strong growth of 6.4% excluding the impact of the craft beer divestitures in fiscal 2024. The increase was driven by ongoing high demand across most of our portfolio, led by growth in Modelo Especial of approximately 11%, Pacifico of approximately 21%, and the Modelo Chelada brands of over 5%; Corona Extra depletions declined over 1%, but the brand is still expected to deliver depletion growth for fiscal 2025.
- In Circana channels, our Beer Business was the #1 dollar share gainer for the 11th consecutive quarter and #1 volume share gainer in the total beer category in the U.S., adding 1.4 and 1.3 points, respectively. Our dollar sales and volume growth outpaced the total beer category by 7.8 and 8.6 percentage points, respectively, and the high-end segment by 5.6 and 6.0 percentage points, respectively.
- Additionally, our Beer Business had 4 of the top 15 dollar share gaining brands across the total Beer category as:
- Modelo Especial accelerated its growth in tracked channels and remained the #1 brand share gainer and #1 brand across the whole U.S. beer category in dollar sales;
- Corona Extra maintained its position as a top 5 brand across the entire U.S. beer category in dollar sales and gained share;
- Pacifico continued to grow rapidly and was the #4 dollar share gainer across the overall beer category; and
- Modelo Chelada brands sustained solid momentum as Modelo Chelada Limón y Sal was a top 10 overall dollar share gainer in the U.S. beer market.
