Constellation Brands, Inc. (NYSE:STZ) shares are trading higher Tuesday after the company reported better-than-expected second-quarter financial results.
What To Know: Constellation reported second-quarter adjusted earnings per share of $3.63, beating the consensus estimate of $3.38. In addition, the company reported sales of $2.48 billion for the second quarter, beating the consensus estimate of $2.45 billion, according to Benzinga Pro.
Beer-segment net sales grew 7% year-over-year, driven by Modelo Especial, Pacifico and Corona Extra, which remained among the fastest-growing high-end brands in the U.S. marketplace. Operating income …