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Constellation Brands, best known for its Mexican beer portfolio including Modelo, Corona, and Pacifico, alongside its wine and spirits business, has reported impressive earnings. The company delivered a 15-cent earnings beat on a $2.11 basis, driven by higher-than-expected sales from its beer offerings. As a result, the stock price increased by over three dollars. Bill Newlands, the President and CEO, discussed the company's record quarter, highlighting the significant contribution of new products and the effective use of their substantial free cash flow towards growth initiatives.
