Constelltn Bnds Stock Price, News & Analysis

Constellation Brands has partnered with Monarch Tractor to become the first customer of the Founder Series MK-V tractor, purchasing six units. This fully electric, driver-optional tractor aims to reduce emissions and improve farming efficiency. The MK-V can operate without a driver and provides significant safety features and data analysis capabilities to aid farmers. The use of this technology is expected to have a positive impact on sustainability in agriculture.

Constellation Brands (NYSE: STZ) announced that Garth Hankinson, EVP and CFO, will present at the 2022 Morgan Stanley Global Consumer and Retail Conference on December 6, 2022, at 10:15 a.m. ET in New York. The presentation will cover the company's business strategies, financial metrics, and future outlook. A live webcast will be available on the investor relations website, with a replay accessible until January 11, 2023.

Constellation Brands is a prominent beverage alcohol company, highly recognized for its beer, wine, and spirits.

Constellation Brands (NYSE: STZ) has completed its reclassification transaction, eliminating Class B Common Stock and transitioning to solely Class A Common Stock. Trading of Class B shares ceased on November 10, 2022. The transaction involved a cash distribution of approximately $1.5 billion to Class B shareholders at $64.64 per share, financed via a delayed draw term loan and commercial paper. This will incur annual interest expenses of $80 - $90 million, contributing to an expected total interest expense of $390 - $400 million for fiscal 2023. The retirement of Robert and Richard Sands is anticipated to yield $15 - $20 million in annual compensation savings.

Constellation Brands (NYSE: STZ, STZ-B) announced that stockholders approved an amended charter eliminating Class B Common Stock. Approximately 75% of Class A shares voted in favor during a special meeting. With this amendment, the company will operate solely under Class A shares, ensuring one vote per share. This change, expected to conclude on November 10, 2022, aims to enhance corporate governance and align voting rights with economic interests. Additionally, several governance enhancements will take effect, including board composition changes and the transition to a majority vote standard for director elections.

Constellation Brands announces a consolidation of its U.S. cannabis assets under a new entity, Canopy USA. This move allows for full ownership of U.S. cannabis investments and aims to capitalize on market opportunities. Constellation will transition its common shares in Canopy Growth to non-voting, exchangeable shares, preserving shareholder value. This simplifies Constellation's focus on its core beer, wine, and spirits businesses and eliminates the impact of Canopy's financial performance on its results. Shareholder approval is pending for necessary amendments.

Constellation Brands (NYSE: STZ and STZ.B) announced its second quarter fiscal 2023 financial results on October 6, 2022. The company is a leader in the beverage alcohol sector, known for brands like Corona and Modelo. A conference call with CEO Bill Newlands and CFO Garth Hankinson will be held to discuss these results and outlook. Constellation aims to deliver growth through a strong product portfolio and commitment to innovation.

Constellation Brands (NYSE: STZ and STZ.B) announced a deal to divest a portion of its wine portfolio to The Wine Group. This includes brands like Cooper & Thief and Charles Smith Wines. The transaction is expected to close today, indicating Constellation's strategic shift towards premium and fine wines while divesting mainstream brands. Executive Robert Hanson emphasized the focus on consumer preferences and premiumization trends. This shift aims to enhance growth and shareholder value, with a streamlined portfolio of strong brands remaining.

Constellation Brands (NYSE: STZ, STZ.B) will report its second quarter financial results for the period ending August 31, 2022, on October 6, 2022, before U.S. market open. The announcement will be followed by a conference call at 10:30 a.m. EDT, featuring President Bill Newlands and CFO Garth Hankinson. Investors can participate by dialing +1-877-407-9121 or via a live webcast on the company's investor relations site. Key financial measures will be available online, ensuring comprehensive insights for shareholders.