In this photo illustration, bottles of Modelo Especial beer sit on a table on June 14, 2023 in Los Angeles, California.
Mario Tama | Getty Images
The Mexican beer powerhouse, owner of the Modelo Especial and Corona Extra brands, reported double-digit sales growth in its beer business as the division continues to dominate the overall beer and high-end categories. Meanwhile sales of wine and spirits lagged.
The company raised its fiscal 2024 earnings per share outlook to a range of $9.60 to $9.80, up from a prior range of $9.35 to $9.65.