Dive Brief:

• Constellation Brands reported a rise in sales and net earnings in the most-recent quarter and increased its forecast for the rest of the calendar year. 
• Much of the sales and profit increase was traced to beer sales. Constellation purchased the U.S. rights to all of the brands of Grupo Modelo, including Corona, from AB InBev in June of last year. 
• The Victor, NY-based Constellation said sales in its wine and spirits business, which includes brands such as Svedka vodka and Black Velvet Canadian whiskey, fell 1%. 

Dive Insight:

There's no doubt now -- if there ever was -- that the best thing that ever happened to Constellation was that federal regulators balked at AB InBev's takeover of Grupo Modelo. That prompted AB to scramble for a solution that eventually led to the sale of Modelo's U.S. operations.

Sales in the most recent quarter hit $1.53 billion -- well above the $1.43 billion that Wall Street expected.