Constellation Brands Q3 Report 2023

“Our Beer Business continued to outperform the market as the top share gainer for the sixth consecutive quarter. Our Wine and Spirits Business further advanced its strategy with our largest higher-end brands delivering growth significantly above the category segments. Looking ahead, we remain confident that we can continue to build on our strong track-record of solid growth and value creation.” Bill Newlands

 

Highlights

• Constellation’s Beer Business posted depletion growth of almost 6%, driven by the continued growth of Modelo Especial and strong momentum in the Modelo Chelada brands. Depletion volume selling days were flat year-over-year.
• In IRI channels, our Beer Business continued to outpace the entire beer and high-end categories in dollar sales growth and volume growth; Constellation was the #1 share gainer in market dollars for a sixth consecutive quarter, adding 1.5 points in the beer category and 2.3 points in the high-end segment, and now has 5 of the top 15 share gaining high-end brands.
• Modelo Especial grew depletions by over 4% and remained the #1 brand in the high-end and #1 brand share gainer in the entire U.S. beer category in IRI dollar sales.
• Modelo Chelada brands continued to be the #1 chelada in the U.S. beer market, posting over 40% depletion growth and held 60% market share of the entire chelada segment.
• Corona Extra reported depletion growth of more than 1% and remained the #3 share gainer in the entire U.S. beer category in IRI channels.
• Pacifico accelerated depletion growth to more than 40% and rose to #7 top share gainer in the U.S. beer category in IRI channels.