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☆ Corona beer-maker Constellation Brands lifts profit forecast on higher pricing
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 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 topping sales expectations for the second quarter, riding on higher prices and strong demand for its beers and spirits. Constellation, like peer Brown-Forman (BFb.N), has benefited from increasing prices in a bid to offset steeper input costs. The company 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. Constellation's quarterly sales rose 7%, to $2.84 billion, compared with analysts' average estimate of $2.82 billion, as per IBES data from LSEG.

Persons: Lucy Nicholson, Brown, Forman, Juveria Tabassum, Pooja Desai Organizations: Constellation Brands Inc, REUTERS, Constellation Brands, LSEG, Thomson Locations: Corona, Los Angeles , California, U.S

☆ 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

☆ These stocks could break out to new highs if the Fed is viewed as market-friendly
▼ + stars: | 2023-09-20 | by ( Brian Evans | ) www.cnbc.com time to read: +5 min

Some stocks that were trading near 52-week highs before the Fed decision could now ride the coattails of the latest interest rate decision and move higher. Boston Scientific's previous 52-week high stood at $54.99 . Meanwhile, credit card giant Mastercard is well within striking range of a new 52-week high, with shares only 1.21% away from the benchmark. Some stocks that were trading near 52-week highs before the Fed decision could now ride the coattails of the latest interest rate decision and move higher. Consensus analyst estimates forecast a 10.4% rally to Arch Capital stock.

Persons: yearend, Jerome Powell, Drew Angerer, Baker Hughes Organizations: Fed, Federal, CNBC, CNBC Pro Stock, Boston Scientific, Boston Scientific's, Boston, Mastercard, Arch Capital, Arch Capital Group, . Federal, Federal Reserve, Washington , D.C, Getty, Capital Group, AIG American International Group, Amphenol, Bunge, Boston Scientific Corp, Design Systems, Everest Group, Emerson Electric Co, HAL Halliburton, ICE, Exchange, Jacobs Solutions, Mckesson, E Corp, Services, Constellation Brands, Targa Resources Corp, Visa Locations: Washington ,

☆ We changed our price target on Constellation after listening to Friday's earnings call
▼ + stars: | 2023-06-30 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

Constellation Brands (STZ) delivered an earnings beat Friday, along with a compelling outlook that prompted us to raise our price target on shares of the Corona brewer. Excluding equity losses from Constellation's stake in cannabis company Canopy , adjusted earnings came in at $3.04 per share. Bottom line Management's full-year guidance — like the headline sales and earnings numbers — was better than the estimates from Wall Street. Company results Beer sales of $2.1 billion, up 11% year over year, were better than analysts' expectations of $2.07 billion. Taking out capital expenditures of $1.2 billion to $1.3 billion (unchanged), the free cash flow forecast comes in between $1.2 billion and $1.3 billion (unchanged).

Persons: —, we're, That's, depletions, Jim Cramer's, Jim Cramer, Jim, Daniel Acker Organizations: Constellation Brands, Corona, Refinitiv, Wall, Modelo Especial, Wall Street, Management, CNBC, Constellation Brands Inc, Bloomberg, Getty Locations: U.S, Ottawa , Illinois

☆ We remain bullish on Constellation Brands despite a top-line miss last quarter
▼ + stars: | 2023-04-06 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Constellation Brands (STZ), the maker or Corona beer and other alcoholic drinks, reported mixed quarterly results on Tuesday. Bottom line Despite the top-line miss, we like what we're seeing this current quarter, which includes Cinco de Mayo, a big day for beer sales. Beer operating margin contracted as higher prices were more than offset by higher packaging, raw materials, logistics and other costs. Additionally, operating cash flow is expected to come in between $2.4 billion and $2.6 billion, below the 3.06 billion expected coming into the quarter. Taking out capital expenditures of $1.2 billion to $1.3 billion, the free-cash-flow forecast comes in between $1.2 billion and $1.3 billion, also a bit short versus the $1.4 billion expected coming into the print.

☆ P&G, Constellation Brands see solid U.S. demand, even as prices rise — a key reason we're shareholders
▼ + stars: | 2023-02-24 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Constellation Brands "Consumer demand for our products remains strong even in a challenging macro environment," Newlands said. Procter & Gamble Inflation continues to weigh on consumers and impact global sales volumes at P & G, CFO Andre Schulten said Thursday. P & G last month delivered solid fiscal second-quarter results , in part through raising prices by as much as 10% on some products. Constellation Brands, meanwhile, continues to demonstrate sustained demand for its leading beer brands. Trucks with Constellation Brands Inc. Corona and Modelo beer sit during a delivery in the Zona Rosa neighborhood in Mexico City, Mexico.

☆ Cheers! Spirits like gin, vodka, overtake beer's U.S. market share
▼ + stars: | 2023-02-09 | by ( Jessica Dinapoli | Thomson Reuters | New York-Based Reporter Covering U.S. Consumer Products Spanning Paper Towels To Packaged Food | ) www.reuters.com time to read: +2 min

Spirits like whiskey, cognac and tequila, a celebrity favorite, have surpassed beer's U.S. market share for the first time due to price hikes and high-end cocktail trends, according to the Distilled Spirits Council of the United States. U.S. sales for spirits totaled $37.58 billion last year, while beers like Anheuser-Busch inbev SA's (ABI.BR) Bud Lite tallied $37.46 billion, according to data compiled by the Distilled Spirits Council. Spirits' market share was 42.1%, while beer's was 41.9%, according to the data. Tequila and ready-to-drink canned cocktails including Constellation Brands Inc's (STZ.N) Fresca vodka spritz were among the fastest-growing types of spirits, the Distilled Spirits Council said. "The 'premiumization' trend, where people look at distilled spirits as an affordable luxury, is affirmed by these numbers," said Chris Swonger, CEO of the Distilled Spirits Council.

☆ Constellation CEO hints at stock buyback after shares take a beating. The Club would fully support the move
▼ + stars: | 2023-01-05 | by ( Krystal Hur | ) www.cnbc.com time to read: +2 min

Constellation Brands (STZ) could potentially implement a stock buyback program, CEO Bill Newlands said Thursday — a move we would welcome as shareholders in the alcoholic beverage maker. During an interview with Jim Cramer on "Mad Money" Thursday evening, Jim pushed Newlands on whether Constellation would consider a buyback given the decline in the stock. U.S.-based Constellation's growth in the beer market has been propelled by its 3 Mexican beer brands — Modelo Especial, Corona and Pacifico. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. A case of Constellation Brands Inc. Corona beer sits on a shelf in a cooler during a delivery in Ottawa, Illinois, U.S., on Tuesday, April 2, 2019.

☆ Modelo beer maker set to deliver a strong Q3, as the Club holding dominates the high-end market
▼ + stars: | 2023-01-04 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

U.S.-based Constellation's growth in the beer market has been propelled by its 3 Mexican beer brands — Modelo Especial, Corona and Pacifico. 1 spot in the country's high-end beer market and the No. 2 in the overall beer market, and has been the No.1 share gainer among Constellation's beer portfolio during the company's last 6 consecutive quarters, according to management. Moreover, Constellation's recent decision to eliminate its dual-class share structure puts the company in a strong position to deliver for all shareholders. Trucks with Constellation Brands Inc. Corona and Modelo beer sit during a delivery in the Zona Rosa neighborhood in Mexico City, Mexico.

We're buying 25 shares of Constellation Brands (STZ) at roughly $230.60 each. Our thesis all year has been that beer demand tends to be resilient in a macroeconomic slowdown, and we think the risk of trade-down from Constellation's one-of-a-kind Mexican beer portfolio is minimal. Lastly, we believe that Constellation Brands trading at a steep discount to other beverage stocks makes it attractive. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Trucks with Constellation Brands Inc. Corona and Modelo beer sit during a delivery in the Zona Rosa neighborhood in Mexico City, Mexico.

☆ Constellation's stock reclassification is a win for regular shareholders
▼ + stars: | 2022-11-10 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

Constellation's shareholders on Wednesday approved the termination of the Corona beermaker's Class B shares, which follows the board of directors sign off on the proposal back in June . The stock reclassification removes an overhang on the Class A stock, which could help boost Constellation's valuation in the long term. The news Roughly 75% of Constellation's Class A shareholders agreed to scrap the company's super-voting Class B shares, which were owned by members of the founding Sands family. The end of Constellation's Class B shares is not the only corporate governance improvement the company has made in recent weeks. Now that Constellation's dual-class share structure is going by the wayside our investment case has only been sweetened .

☆ Pot producer Canopy sets up holding entity for speedy U.S. market entry
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +2 min

The pot producer will not right away benefit from the transactions as weed remains federally illegal and Canadian companies that grow or sell marijuana cannot do so in the United States. read moreIn anticipation of the changes, Canopy on Tuesday outlined a complex holding company structure to set up Canopy USA LLC. Canopy USA will now skip the wait and take over the firm right away, it said. Canopy USA will also take over Wana and Jetty, streamlining ownership. Constellation could still choose not to convert its stake, in which case Canopy USA will not proceed with these deals.

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