Constellation Brands reports company developments tied to its beer, wine and spirits business and its publicly traded Class A common stock. The company produces and markets beverage alcohol brands across operations in the U.S., Mexico, New Zealand and Italy, with portfolios that include Modelo Especial, Corona Extra, Modelo Cheladas, Pacifico, Victoria, The Prisoner Wine Company, Robert Mondavi Winery, Kim Crawford, Mi CAMPO Tequila and High West Whiskey.
Recurring news covers fiscal results, operating performance, financial outlook, brand portfolio references, capital-structure actions and shareholder voting matters. Company updates also include debt-market activity, such as senior note issuance or redemption notices, and governance developments such as executive succession and board-related disclosures.
Constellation Brands (NYSE: STZ) has announced an agreement to sell its SVEDKA brand to global spirits company Sazerac as part of its strategic portfolio restructuring. The transaction, expected to close in the coming months, aligns with Constellation's strategy to focus on premium and fine wine and craft spirits segments. This move follows the company's recent divestments of popular and mainstream wine and spirits brands, aiming to optimize their portfolio and accelerate business performance in higher-end market sectors.
Constellation Brands (NYSE: STZ) has announced its participation in the 2024 Morgan Stanley Global Consumer and Retail Conference. Executive Vice President and CFO Garth Hankinson will lead a fireside chat on December 3, 2024, at 2:15 p.m. ET in New York. The presentation will discuss the company's strategic initiatives, financial metrics, and operating performance.
A live webcast will be available on the company's investor relations website, along with financial information and GAAP reconciliation measures. Those unable to attend can access a replay through January 3, 2025.
Constellation Brands (NYSE: STZ) has appointed E. Yuri Hermida as the new Executive Vice President, Chief Growth & Strategy Officer. Hermida will oversee Consumer Insights & Innovation, Digital, Transformation, Media, New Business Ventures, and Strategy & Analytics, reporting directly to CEO Bill Newlands. With extensive experience in the CPG sector across global markets, Hermida brings strong management and operational skills to the team.
Hermida succeeds Mallika Monteiro, who will now focus on managing the company's beer brand portfolio as Executive Vice President and Managing Director. Monteiro will continue to report to Newlands and serve on the executive management committee, leveraging her experience in beer and brand marketing to drive growth for Constellation's high-end beer brands.
Constellation Brands (NYSE: STZ), a leading beverage alcohol company, has announced its second quarter fiscal 2025 financial results. The company will host a conference call on Thursday, October 3, 2024, at 10:30 a.m. EDT to discuss the results and outlook. President and CEO Bill Newlands and CFO Garth Hankinson will lead the call.
Investors and interested parties can join the conference call or access a live, listen-only webcast through the company's investor relations website at ir.cbrands.com. This announcement provides an opportunity for stakeholders to gain insights into Constellation Brands' recent financial performance and future prospects.
Constellation Brands (NYSE: STZ) has updated its fiscal 2025 outlook, raising the lower end of its comparable EPS guidance to $13.60 - $13.80, affirming double-digit growth. The company updated its Enterprise net sales growth to 4% - 6% and Beer net sales growth to 6% - 8%. However, it expects a Wine and Spirits goodwill impairment loss of $1.5 - $2.5 billion. The Beer segment shows resilience with operating income growth raised to 11% - 12%, while Wine and Spirits face challenges with expected net sales and operating income declines. Despite macroeconomic headwinds, Constellation Brands remains confident in delivering against initial double-digit comparable EPS growth expectations and maintains its capital allocation priorities.
Constellation Brands (NYSE: STZ), a leading beverage alcohol company, has announced it will report its second quarter fiscal 2025 financial results on Thursday, October 3, 2024, before the U.S. markets open. A conference call to discuss the results and outlook will be held at 10:30 a.m. EDT on the same day, hosted by CEO Bill Newlands and CFO Garth Hankinson.
Investors can access the call by dialing +1-877-407-9121 with conference ID 13747784. A live webcast will be available on the company's investor relations website. Financial information and reconciliations of GAAP to non-GAAP measures will be posted on the website when the call begins. A replay will be available for those unable to participate.
Constellation Brands (NYSE: STZ), a leading beverage alcohol company, has announced its participation in the 2024 Barclays Global Consumer Staples Conference on September 3, 2024, in Boston, MA. Bill Newlands, President and CEO, and Garth Hankinson, Executive VP and CFO, will engage in a fireside chat starting at 11:15 a.m. EDT.
The presentation will cover the company's strategic initiatives, financial metrics, operating performance, and future outlook. A live webcast will be available on Constellation's investor relations website, along with financial information and reconciliation of GAAP measures with non-GAAP metrics. A replay will be accessible until March 3, 2024, for those unable to attend the live event.
Constellation Brands (NYSE: STZ) has announced its first quarter fiscal 2025 financial results.
The company reported a 15% year-over-year increase in net sales, reaching $2.3 billion.
Earnings per share (EPS) rose to $3.32, up from $2.94 in the previous year, surpassing analyst expectations of $3.20.
The company highlighted strong growth in its beer segment, driven by popular brands like Corona and Modelo, contributing significantly to the overall revenue increase.
However, the wine and spirits segment experienced a 5% decline in revenue, attributed to changing consumer preferences and increased competition.
Operating income increased by 12%, reaching $720 million, while operating expenses rose by 10% due to higher marketing and distribution costs.
The company reaffirmed its full-year fiscal 2025 guidance, projecting net sales growth of between 7% and 9% and EPS of $12.70 to $13.00.
Constellation Brands (NYSE: STZ) announced it will report its first quarter fiscal 2025 financial results on July 3, 2024, before U.S. market open. A conference call to discuss the results will be hosted by CEO Bill Newlands and CFO Garth Hankinson at 10:30 a.m. EDT. The call can be accessed by dialing +1-877-407-9121 with ID 13746981, or via a live webcast on the company's investor relations website.
Financial information and reconciliations of GAAP and non-GAAP measures discussed during the call will be available on the same site. A replay will also be available for those unable to participate.
Ascend Wellness Holdings (AAWH), a multi-state cannabis operator, announced the appointment of Julie Francis to its Board of Directors, effective June 3, 2024. This expansion increases the board members from six to seven. Francis, recognized as an independent director by SEC and NYSE standards, brings extensive experience from her roles at Schwan's Company, Constellation Brands, and Coca-Cola Refreshments. Her appointment strengthens AWH's governance practices and aligns with its growth objectives. Executive Chair, Abner Kurtin, highlighted her expertise in the consumer goods sector as a valuable asset for the company.