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☆ Constellation Brands CEO explains sales weakness in wine and spirits: 'we spread ourselves a little too thin'
▼ + stars: | 2024-04-11 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Constellation Brands CEO Bill Newlands told CNBC's Jim Cramer on Thursday how the company plans to improve its wine and spirits division, which saw its net sales decline during the most recent quarter. "We're going to put a lot more focus on the critical brands, brands like the Prisoner, and Meiomi, and High West, and Mi Campo, as examples. Despite shortcomings with its wine and spirits business, the company's quarterly earnings report showed strength in beer sales. Newlands also expressed confidence in Sam Glaetzer, the new leader of Constellation Brands' wine and spirits business. Constellation Brands is seeing success and growth in its Pacifico Brand, Newlands added.

Persons: Bill Newlands, CNBC's Jim Cramer, Mi, We're, Newlands, Sam Glaetzer, Glaetzer, it's Organizations: Constellation, High, Constellation Brands, Modelo, Management, Pacifico Brand, Pacifico Locations: Corona, Pacifico, Newlands, California, Florida, New Jersey, West Coast

☆ Modelo maker Constellation's upbeat forecast should send the stock to new highs
▼ + stars: | 2024-04-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Constellation Brands reported better-than-expected quarterly earnings Thursday, driven by strength in its beer business that more than offset continued weakness in wines and spirits. Management's upbeat forecast for fiscal year 2025 should send the stock to new all-time highs. Constellation Brands Why we own it : We like Constellation Brands for its beer franchise, which includes popular Mexican brands Modelo, Corona and Pacifico. More importantly, the sales gains in the beer business are almost entirely driven by volume gains, not higher prices. Management cited Circana channel data as evidence that its beer business outperformed the total U.S. beer category and remained the top dollar sales share gainer.

Persons: Jim Cramer's, Bill Newlands, Beer, Crawford, Meiomi, Robert Mondavi, Jim Cramer, Jim, Justin Sullivan Organizations: Constellation Brands, Modelo, Anheuser, Busch Inbev, Molson Coors, Constellation, Modelo Especial, Corona, Pacifico, Management, High, Woodbridge, Lumina, Enterprise, CNBC Locations: Corona, Pacifico, STZ, Pacific, San Rafael , California

☆ Modelo maker Constellation Brands is primed for market share gains but we still see one issue with the company
▼ + stars: | 2024-04-07 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Constellation Brands stock is looking like it could be ready to break out, with its strong beer business well-positioned for market share gains in the upcoming fiscal year. Morgan Stanley anticipates Constellation to continue gaining market share at the expense of Bud Light during this period. Since Constellation tends to boast industry-leading results in its beer business, we're confident it will deliver strong numbers again next week. Over the past few years, Constellation has been trying to boost sales in its wine and spirits business — shifting from lower-priced brands to more premium names. While wine and spirits make up a small part of Constellation's overall business, Jim has said it must go.

Persons: It's, Jim Cramer, Morgan Stanley, Jeff Marks, Jim, Bud Light, Marks, Piper Sandler, Newlands, Kim Crawford, Eli Lilly, Elliott, Jim Cramer's, Justin Sullivan Organizations: Constellation Brands, Anheuser, Busch Inbev, Modelo, Nielsen, Cinco de Mayo, Bud Light, Constellation, Piper, Elliott Investment Management, CNBC Locations: Corona, Pacifico, U.S, GLP, Modelo, San Rafael , California

☆ Constellation Brands CEO touts beer performance post earnings
▼ + stars: | 2023-10-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

In a Thursday interview with CNBC's Jim Cramer, Constellation Brands CEO Bill Newlands highlighted the past quarter's success in its beer brands and said the company has been shifting its focus from mainstream to higher-end brands. Constellation reported earnings Thursday, with its beer portfolio seeing double-digit sales growth. Newlands chalked up some of this underperformance to the mainstream brands in its spirits and wine business. Additionally, Constellation's earnings report showed that and its higher-end wine and liquor brands — like Meiomi and Kim Crawford wine brands — outperformed the rest of the group. "Today it's one-third, and even though that area continues to drag on the overall business, the top end of our wine business is doing quite well and taking share."

Persons: CNBC's Jim Cramer, Bill Newlands, Newlands, Kim Crawford Organizations: Constellation Brands, Pacifico, Corona, Constellation, — Locations: Newlands

☆ Corona beer maker Constellation Brands bets on higher pricing to lift profit view
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

Bottles of the beer, Corona, a brand of Constellation Brands Inc., sit on a supermarket shelf in Los Angeles, California April 1, 2015. REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsOct 5 (Reuters) - Constellation Brands (STZ.N) raised its annual profit target on Thursday after higher prices and strong demand for its beers and spirits drove a sales and profit beat in the second quarter. Alcohol producers such as Constellation and peer Brown-Forman (BFb.N) have benefited from increasing prices, helping offset steeper raw material costs. Constellation also raised the annual sales forecast for its beer business. Constellation now expects fiscal 2024 comparable earnings per share between $12.00 and $12.20, as against its previous forecast of profit between $11.70 and $12.00 per share.

Persons: Lucy Nicholson, Brown, Forman, Kim Crawford, Busch, Bud Light, Bump Williams, Garrett Nelson, Juveria Tabassum, Pooja Desai Organizations: Constellation Brands Inc, REUTERS, Constellation Brands, Constellation, Modelo Especial, Corona, Modelo, Anheuser, LSEG, Thomson Locations: Corona, Los Angeles , California, U.S, Rochester , New York

☆ Constellation Brands beats on earnings as Modelo-fueled beer momentum continues
▼ + stars: | 2023-10-05 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

Constellation Brands on Thursday reported earnings and revenue that topped analysts' expectations for its fiscal second quarter of 2024. The Mexican beer powerhouse, owner of the Modelo Especial and Corona Extra brands, reported double-digit sales growth in its beer business as the division continues to dominate the overall beer and high-end categories. The Modelo brand family was a particular bright spot: Modelo Especial grew nearly 9%, while Modelo Chelada brands posted growth of more than 40%. The company's wine and spirits brands, however, underperformed year over year. In its previous quarter, beer sales rose 11% year over year driven by stable consumer demand and higher pricing.

Persons: Constellation's Meiomi, Kim Crawford, Campo, Bill Newlands Organizations: Constellation Brands, Modelo Especial, Corona, Constellation, LSEG, Modelo, Business Locations: Mexican, U.S

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