Welcome to our dedicated page for Constelltn Bnds news (Ticker: STZ), a resource for investors and traders seeking the latest updates and insights on Constelltn Bnds stock.
Constellation Brands, Inc. (NYSE: STZ) is an international producer and marketer of beer, wine, and spirits, and its news flow reflects this broad beverage alcohol portfolio. Company updates frequently highlight performance and trends in its high-end imported beer portfolio anchored by Corona Extra and Modelo Especial, as well as developments across wine brands such as The Prisoner Wine Company, Robert Mondavi Winery, Kim Crawford, Schrader Cellars, and Lingua Franca, and craft spirits brands including Casa Noble Tequila and High West Whiskey.
News releases for STZ often focus on quarterly financial results, where the company reports on its financial condition and results of operations for each fiscal quarter. These announcements typically include management commentary, non-GAAP metrics described as comparable, adjusted, or organic, and updates to fiscal outlook, including segment-level expectations for beer and wine and spirits.
Investors following STZ can also expect news about capital markets activity, such as the pricing and issuance of senior notes, the use of automatic shelf registration statements, and updates on share repurchase authorizations and dividend declarations. The company has disclosed offerings of senior notes due 2035 and related indenture arrangements, as well as the filing of a resale prospectus supplement for shares of Class A Common Stock.
Additional news items include announcements of conference presentations, changes in senior management roles, amendments to corporate by-laws, and timing of earnings conference calls. For readers tracking Constellation Brands, this news page provides a centralized view of how the company communicates about its beer, wine, and spirits businesses, its financial outlook, and its governance and financing decisions over time.
Constellation Brands (NYSE: STZ and STZ.B) reported its third quarter fiscal 2021 results on January 7, 2021. Key highlights include continued growth in high-end beer brands such as Corona and Modelo, supporting its position as a leader in the beverage alcohol market. A conference call discussing the results and future outlook is set for January 7, 2021, at 11:30 a.m. (EST). More information is available through their investor relations page.
Constellation Brands (NYSE: STZ and STZ.B) announced the full redemption of its outstanding 3.75% Senior Notes due 2021, totaling $500 million, to occur on February 4, 2021. The redemption will include a make-whole premium estimated at $4 million. This proactive step reflects the company's financial strategy aimed at optimizing its debt profile.
Constellation Brands has finalized the divestiture of part of its wine and spirits portfolio to E. & J. Gallo Winery for approximately $810 million, primarily consisting of $560 million in cash at closing and up to $250 million in potential earnouts. The divestment includes brands priced at $11 retail and below, with related facilities in California, New York, and Washington. Additionally, the company sold the Nobilo wine brand for around $130 million and is expecting to close a sale of the Paul Masson Grande Amber Brandy for approximately $255 million.
Constellation Brands (NYSE: STZ and STZ.B) announced that the U.S. Federal Trade Commission (FTC) has approved the proposed consent order for the company's divestiture of certain wine and spirits assets to E. & J. Gallo Winery. The transaction, valued at $11 retail and below, is set to close the week of January 4, 2021. The FTC also approved separate divestitures to Sazerac and Vie-Del Company. This approval fulfills all antitrust requirements, allowing Constellation to proceed with the transactions.
Constellation Brands (NYSE: STZ, STZ-B) announced it will report its fiscal Q3 2021 results on January 7, 2021, prior to U.S. market opening. The results will be discussed in a conference call hosted by CEO Bill Newlands and CFO Garth Hankinson at 11:30 a.m. EST. A live webcast will also be available on the company’s website. Constellation Brands, a major player in the beverage alcohol industry, operates in the U.S., Mexico, New Zealand, and Italy, focusing on premium beer, wine, and spirits.
Constellation Brands (NYSE: STZ, STZ.B) announced that CFO Garth Hankinson will virtually present at the 2020 Morgan Stanley Conference on December 2, 2020, at 1:00 p.m. ET. The presentation will highlight the company's strategic initiatives, financial metrics, and product portfolio performance, along with future outlook.
A live webcast of the presentation will be available on www.cbrands.com. A replay will be accessible until January 6, 2021.
Constellation Brands (NYSE: STZ, STZ.B) announced an agreement with E. & J. Gallo Winery concerning Gallo's acquisition of parts of Constellation's wine and spirits portfolio, valued at approximately $1.03 billion. The FTC review process is in final stages, with expected closure by Q4 of fiscal 2021. Constellation anticipates maintaining its 7%-9% growth projection for its Beer Business, despite COVID-19 challenges. Ongoing divestitures include the Nobilo Wine brand for $130 million and the Paul Masson brand for $255 million.
Constellation Brands has announced its plans to redeem all outstanding Senior Floating Rate Notes due 2021, totaling $650 million. This redemption will take place on November 30, 2020, at 100% of the principal amount plus accrued interest. This strategic financial move reflects Constellation's commitment to managing its debt effectively. The company is a leading player in the beverage alcohol sector, known for brands like Corona and Modelo, and is continuously focusing on strengthening its market position.
Constellation Brands (NYSE: STZ, STZ.B) has elected Nicholas I. Fink, CEO of Fortune Brands Home & Security, to its board of directors starting January 4, 2021. This election expands the board from 12 to 13 members. Fink brings a wealth of experience in beverage alcohol and international business, which is expected to enhance strategic growth. He expressed excitement about joining a leading CPG company and looks forward to contributing to its success. Constellation aims to leverage consumer insights and maintain its growth trajectory in the beverage alcohol market.
FAQ
What is the current stock price of Constelltn Bnds (STZ)?
What is the market cap of Constelltn Bnds (STZ)?
