Victor-based Constellation Brands is reporting better than expected numbers for profits and sales in its latest quarter.
The company saw a 15 percent jump in first quarter profit, as Constellation's Mexican beer segment continued to push growth. Earnings per share beat Wall St. estimates by two cents a share, with the company earning about $239 million. Revenue saw a seven percent increase also beating estimates.
Constellation Brands also announced that it will buy the Meiomi wine brand for about $315 million.
Constellation also lifted its outlook for earnings for the full year, citing the strong beer sales. CEO Rob Sands says they also saw improving market trends for the U.S. wine business in its first quarter.
