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Constellation shares fall after earnings beat, giving investors a chance to buy

Trucks with Constellation Brands Inc. Corona and Modelo beer sit during a delivery in the Zona Rosa neighborhood in Mexico City, Mexico.
Susana Gonzalez | Bloomberg | Getty Images

Constellation Brands (STZ) reported solid fiscal first-quarter earnings on Thursday before the opening bell.

The wine, beer and liquor company reported net sales of $2.36 billion, up 17% year over year and above Wall Street expectations of $2.16 billion. On the bottom line, the company said it had adjusted earnings of $2.66 per share, an increase of 14% over the prior year and a beat on the $2.52 consensus.