Constellation Brands reports net sales of its beer, wine and spirits up by nine percent in its third quarter, generating nearly $2 billion.
The company says it’s investment in Canopy Growth, Canada’s legal marijuana industry, has produced a $1.2 billion unrealized gain since November of 2017. That’s even though the value declined in the third quarter by $164 million.
The company has raised its earnings per share guidance for fiscal 2019 from $12.95 to $13.05 per share.