Canopy Growth Continues to Weigh on Constellation Brands' Performance
Corona beer owner Constellation Brands (NYSE: STZ) beat Wall Street's projections for sales and profits in its fiscal 2022 third-quarter earnings results, but overall sales and profits were still down from last year, and marijuana remains a buzzkill.
Coupled with supply shortages on glass and runaway inflation driving all costs higher, Constellation will be raising prices, which could impact sales going forward. But the alcoholic beverage distributor did raise its earnings outlook for the full year, making the quarter a mixed bag of results.
Image source: Constellation Brands.
Source Fool.com
