Constellation Sales Jump 12% To $7.3B In Full Fiscal Year

Propelled by strong growth in both beer and premium wine and spirits, Constellation Brands posted a 12% net sales increase to $7.3 billion in its fiscal year ended in February. Operating income surged 18% on a comparable basis, to $2.2 billion.

Recent acquisitions Meiomi, The Prisoner, Charles Smith and High West all delivered double-digit depletion growth for the company, whose wine and spirits sales overall grew 4% on an organic constant currency basis. The wine and spirits division’s operating income rose 10%, due to the expansion of those and other higher-margin brands.

Meanwhile, Constellation’s net sales in beer were up 13%, owing to ongoing volume growth for its Mexican import-driven portfolio, as well as favorable pricing and the addition of California craft brewer Ballast Point, which the company acquired for $1 billion in late 2015.

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