Beer, wine and spirits group Constellation Brands (STZ:NYSE) is due to update the market on fourth-quarter and full-year trading on 11 April.

With the shares having gained close to 12% to $270 this year, within touching distance of their all-time highs last August, there is a lot riding on a positive update, especially after a disappointing third quarter.

Having raised prices to offset input-cost inflation, the firm saw net sales of its premium products like wine, vodka and tequila sink 7% in the quarter and guided for a 7% to 9% fall for the full year, compared with initial expectations of flat sales, and a 6% to 8% fall in operating income.

On a positive note its decision to sell its beer in smaller pack sizes went down well with consumers, and it picked up customers from rival Anheuser-Busch Inbev (BUD:NYSE) after the latter’s social media campaign alienated drinkers.

The consensus for the year to February 2024 is for earnings of $9.32 per share on sales of $9.9 billion, after the firm updated its earnings guidance in January to $9.15 to $9.35 per share. 

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