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Bottles of Constellation Brands Inc. Corona beer sit on display for sale inside a Bev Mo Holdings LLC store in Walnut Creek California U.S. on Wednesday Jan. 3 2018. Constellation Brands Inc. is scheduled to release earnings figures on January 5

Constellation Brands Inc (NYSE:STZ), owner of alcohol brands including Corona, Modelo and Svedka, posted fiscal fourth-quarter numbers that have traders toasting their results.

It was reported last month that Constellation was nearing a deal to sell off some of its underperforming lower-end wine brands.

Constellation, which is set to report quarterly results on Thursday, retains a host of brands including Robert Mondavi, Meiomi and Kim Crawford.

The company's new low-calorie Premier beer and Corona Familiar, launched in the United States early previous year, boosted beer sales up 9.3 percent to $1.09 billion in the three months to February 28 and helped it beat analysts' estimates.

Constellation Brands posted a 7% increase in net sales in its fiscal full-year results, as the United States company was boosted by its Corona and Modelo beer brands.

Net income attributable to the company rose to $1.24 billion, or $6.37 per class A common share, for the quarter, from $910.5 million, or $4.56 per share, a year earlier. The company said it expects fiscal 2020 comparable earnings per share in a range of $8.50 to $8.80, excluding Canopy Growth equity earnings, compared with $9.34 in fiscal 2019.

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After the markets closed on April 3, Constellation Brands announced that it would divest 30 wine and spirits brands and the related facilities to E. & J. Gallo Winery for $1.7 billion.

Speaking on a conference call with investors on Thursday following the beer and wine-maker's fourth-quarter earnings, Bill Newlands said he expects Canopy Growth to benefit from more brick-and-mortar retail stores coming online in Canada and the roll-out of vape, edible, beverage products in that market next fall.

-Constellation raised its profile a year ago by investing in Canopy Growth Corp., the world's most valuable marijuana company.

Following the Gallo deal, Constellation Brands said it will implement a cost-cutting plan for the current and next fiscal year.

The company reported Thursday that it saw profits of almost one-and-a-quarter billion dollars for its fiscal fourth quarter, and sales totaling almost $2 billion.

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