Modelo Stays King, but Corona's Little Siblings Are Doing the Heavy Lifting at Constellation Brands

Constellation Brands posted its fourth consecutive earnings beat on Tuesday, reporting second-quarter fiscal 2027 net sales of $2.63 billion, up 6 percent, with comparable earnings per share climbing 3 percent to $3.74. The company returned $400 million to shareholders through buybacks and dividends during the quarter.

Modelo Especial held its spot as the top-selling beer in the country by dollar sales, and the beer division grew net sales 5 percent overall. But the real growth story sat just behind it: Pacifico and Victoria posted gains of roughly 19 percent and 15 percent, respectively, while Corona Extra and Corona Familiar kept the flagship steady. Wine and spirits outpaced beer entirely, growing net sales 17 percent on the strength of Kim Crawford and Mi Campo. CEO Nicholas Fink credited the quarter to broader momentum, saying the company was "the number-one dollar share gainer in beverage alcohol during the second quarter," while CFO Garth Hankinson pointed to "strong cash flow generation" that let Constellation keep its capital allocation plan on track.

It is a tidy quarter dressed up as a beer story when it is really a diversification story: the unglamorous wine and spirits arm, long treated as Modelo's quieter sibling, is now growing more than three times faster than the beer business carrying the company's brand identity.

Source: Constellation Brands

Kyle Duford, Founder & Editor, BRNDWIRE. More from Kyle →