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Constellation Brands Inc (STZ.N)

STZ.N on New York Stock Exchange

188.61USD
7 Dec 2018
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$-2.11 (-1.11%)
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Latest Key Developments (Source: Significant Developments)

Constellation Brands Names Bill Newlands President And COO, Rob Sands Remains CEO
Wednesday, 14 Feb 2018 08:30am EST 

Feb 14 (Reuters) - Constellation Brands Inc ::BILL NEWLANDS NAMED CONSTELLATION BRANDS PRESIDENT AND COO; ROB SANDS REMAINS CEO.  Full Article

Constellation Brands Says Expects New Tax Legislation To Result In Reduction In Existing Net Deferred Tax Liabilities By $300 Mln To $400 Mln
Friday, 5 Jan 2018 12:22pm EST 

Jan 5 (Reuters) - Constellation Brands Inc ::ON CONF CALL - "IN PROCESS OF EVALUATING SPECIFIC BENEFITS OF TAX REFORM".CONSTELLATION - NEW 21 PCT CORPORATE TAX RATE WILL APPLY FOR LAST 2 MONTHS OF FY RESULTING IN LOWER BLENDED STATUTORY TAX RATE VERSUS HISTORICAL 35 PCT RATE.CONSTELLATION BRANDS - EXPECT THE NEW TAX LEGISLATION TO RESULT IN A REDUCTION IN EXISTING NET DEFERRED TAX LIABILITIES BY $300 MILLION TO $400 MILLION.CONSTELLATION BRANDS - NET DEFERRED TAX LIABILITIES IS ONETIME, NONCASH BENEFIT AND WILL BE REPORTED IN Q4 '18 RESULTS.CONSTELLATION - Q4 OPERATING MARGIN SEEN TO MODERATE DUE TO LOWER SEASONAL PRODUCTION VOLUME, RISE IN DEPRECIATION, LINE COMMISSIONING COSTS, HEADCOUNT ADDS.CONSTELLATION BRANDS - RATIONALIZING LOW MARGIN VALUE BRAND SKUS TO IMPACT TO WINE AND SPIRITS REVENUE GROWTH BY ALMOST 100 BASIS POINTS FOR FY '18.CONSTELLATION BRANDS - NEW REVENUE ACCOUNTING STANDARD STARTING IN FISCAL '19 TO RESULT IN SOME SALES INCENTIVES RECOGNIZED EARLIER THAN THEY ARE CURRENTLY.CONSTELLATION BRANDS - OVERALL, CO IN PROCESS OF QUANTIFYING REVENUE ACCOUNTING CHANGES, BUT DOESN'T EXPECT A MATERIAL IMPACT TO NET SALES.CONSTELLATION BRANDS CEO ROB SANDS - DON'T SEE ANY IMPACT FROM LEGALIZATION OF CANNABIS IN CALIFORNIA.CONSTELLATION BRANDS CEO ROB SANDS - CANT SEE ANY REAL IMPACT ON BEVERAGE ALCOHOL SALES IN SIX STATES THAT HAVE LEGALIZED CANNABIS.  Full Article

Constellation Brands Announces Quarterly Reported Basis EPS Of $2.44
Friday, 5 Jan 2018 07:30am EST 

Jan 5 (Reuters) - Constellation Brands Inc ::SAYS QTRLY REPORTED BASIS EPS OF $2.44.CONSTELLATION BRANDS QTRLY REPORTED NET SALES $1,799 MILLION, DOWN 1 PCT‍​.CONSTELLATION BRANDS QTRLY COMPARABLE EPS $2.00.SAYS INCREASES FISCAL 2018 REPORTED BASIS EPS OUTLOOK TO $8.50 -$8.60 AND COMPARABLE BASIS EPS OUTLOOK TO $8.40 - $8.50.SAYS BOARD AUTHORIZES NEW $3 BILLION SHARE REPURCHASE PROGRAM; $308 MILLION REMAINING ON EXISTING AUTHORIZATION.SAYS FOR FISCAL 2018, BEER BUSINESS CONTINUES TO TARGET NET SALES GROWTH IN THE RANGE OF 9 - 11 PERCENT.CONSTELLATION BRANDS SEES FISCAL 2018 CAPEX $1.175 BILLION - $1.275 BILLION , INCLUDING ABOUT $1.0 BILLION TARGETED FOR MEXICO BEER OPERATIONS EXPANSION ACTIVITIES.CONSTELLATION BRANDS SEES FOR FISCAL 2018 FOR WINE AND SPIRITS BUSINESS, NET SALES TO DECREASE IN RANGE OF 4 - 6 PERCENT, OPERATING INCOME TO BE FLAT.SAYS AFFIRMS FISCAL 2018 OPERATING CASH FLOW TARGET OF ABOUT $2.0 BILLION AND FREE CASH FLOW PROJECTION OF $725 - $825 MILLION.FY2018 EARNINGS PER SHARE VIEW $8.43 -- THOMSON REUTERS I/B/E/S.Q3 EARNINGS PER SHARE VIEW $1.89, REVENUE VIEW $1.87 BILLION -- THOMSON REUTERS I/B/E/S.CEO SAYS BELIEVE TAX REFORM LEGISLATION "WILL BE POSITIVE FOR CONSTELLATION GOING FORWARD".CONSTELLATION BRANDS - FISCAL 2018 GUIDANCE INCLUDES ASSUMPTIONS OF TAX RATE OF ABOUT 20 PERCENT, WHICH EXCLUDES POTENTIAL IMPACT FROM U.S. TAX REFORM‍​.  Full Article

Constellation Brands prices offering of senior notes
Tuesday, 31 Oct 2017 09:07pm EDT 

Oct 31 (Reuters) - Constellation Brands Inc ::Constellation brands prices offering of senior notes.Constellation brands inc - announced today that it priced public offering of $2.0 billion aggregate principal amount of senior notes​.Constellation brands - ‍priced offering of $600 million of 2.000% senior notes due 2019 for public offering price of 99.860% of principal amount 2019 notes​.Constellation brands inc - ‍priced $700 million of 2.250% senior notes due 2020 for a public offering price of 99.804% of principal amount of 2020 notes​.Constellation brands-p‍riced public offering of $700 million of 2.65% notes due 2022 for public offering price of 99.582% of principal amount of 2022 notes​.  Full Article

Constellation Brands takes 9.9% stake in Canopy Growth Corp
Monday, 30 Oct 2017 06:30am EDT 

Oct 30 (Reuters) - Constellation Brands Inc :Constellation Brands to acquire minority stake in Canopy Growth Corporation.Investment is expected to approximate C$245 million representing an ownership interest of 9.9% of canopy growth corporation​.  Full Article

Canopy Growth gets C$245 mln investment from Constellation Brands
Monday, 30 Oct 2017 06:30am EDT 

Oct 30 (Reuters) - Canopy Growth Corp :Canopy Growth establishes groundbreaking strategic relationship with Constellation Brands.Canopy Growth will principally use proceeds to fund expansion of its international growing platform​.In exchange for Constellation's investment, 18.9 million Canopy Growth common shares will be issued at a price of $12.9783 per share.Constellation's unit's investment of about C$245 million in co for common shares will represent 9.9% equity share in co after deal.  Full Article

Owens-Illinois Q3 earnings per share $0.77 from continuing operations
Monday, 23 Oct 2017 04:30pm EDT 

Oct 23 (Reuters) - Owens-Illinois Inc ::O-I reports third quarter 2017 results; higher results in Europe and Latin America lead to double-digit increase in earnings per share.Q3 earnings per share $0.77 from continuing operations.Q3 sales $1.8 billion versus i/b/e/s view $1.77 billion.Q3 earnings per share view $0.73 -- Thomson Reuters I/B/E/S.Sees fy 2017 earnings per share $0.90 to $1.86 from continuing operations.Owens-Illinois Inc -continues to expect cash provided by continuing operating activities for 2017 to be approximately $750 million​.Owens-Illinois Inc - ‍continues to expect adjusted free cash flow to be approximately $365 million for fy 2017 ​.Owens-Illinois inc - ‍"company continues to de-risk its pension plans​".Owens-Illinois inc - ‍in q4 of 2017, company intends to annuitize more of its pension plans in North America​.Owens-Illinois - plan ‍to annuitize more pension plans in North America is expected to result in non-cash charges in excess of $100 million​.Owens-Illinois Inc - ‍adjusted earnings per share for full year 2017 are expected to be in range of $2.60 to $2.65​.Fy2017 earnings per share view $2.63 -- Thomson Reuters I/B/E/S.Owens-Illinois Inc - ‍agreed to expand its 50-50 joint venture with constellation Brands​.Owens-Illinois says ‍newly-expanded relationship with constellation Brands​ provides for addition of fifth furnace, expected to be operational by 2019-end.  Full Article

Constellation Brands plans to nationally launch Corona Premier beginning in fiscal 2019
Thursday, 5 Oct 2017 12:02pm EDT 

Oct 5 (Reuters) - Constellation Brands Inc :Earthquakes in Mexico did not have an impact on production operations there - CEO on Conf call.Plans to increase capacity at Nava Brewery by end of calendar year - Conf call.Plans to nationally launch Corona Premier beginning in fiscal 2019 - Conf call.Spirits portfolio posted net sales growth of 2 percent for the quarter, driven primarily by High West Whiskey -Conf call.Continues to expect FY 18 wine and spirits reported net sales to decrease in the range of 4 percent to 6 percent - Conf call.  Full Article

Constellation Brands qtrly reported share of $2.48
Thursday, 5 Oct 2017 08:10am EDT 

Oct 5 (Reuters) - Constellation Brands Inc ::Constellation Brands reports second quarter fiscal 2018 results.Achieves qtrly reported basis EPS of $2.48 and qtrly comparable basis EPS of $2.47‍​.Increases FY18 EPS guidance.Affirms fiscal 2018 operating cash flow target of approximately $2.0 billion‍​.Increases fiscal 2018 reported basis EPS outlook to $7.90 - $8.05 ‍​.Increases fiscal 2018 comparable basis EPS outlook to $8.25 - $8.40‍​.Constellation Brands Inc qtrly reported net sales $2,085 million, up 3 pct‍​.For fiscal 2018 the beer business continues to target net sales growth in the range of 9 - 11 percent.Q2 earnings per share view $2.16, revenue view $2.06 billion -- Thomson Reuters I/B/E/S.FY2018 earnings per share view $8.18, revenue view $7.62 billion -- Thomson Reuters I/B/E/S.For fiscal 2018, beer business continues to target net sales growth in the range of 9 - 11 percent.Sees for fiscal 2018 capital expenditures of $1.175 billion to $1.275 billion.For fiscal 2018 for the wine and spirits business, co continues to expect net sales to decrease in the range of 4 - 6 percent.For fiscal 2018 for the wine and spirits business, co continues to expect operating income to be flat.For 2018, operating income growth now targeted in range of 17 - 19 percent for beer business .  Full Article

Craft Brewer Funky Buddha joins Constellation Brands
Thursday, 10 Aug 2017 09:05am EDT 

Aug 10 (Reuters) - Constellation Brands Inc ::Constellation Brands Inc - ‍its purchase of Florida-based Funky Buddha Brewery​.Constellation Brands Inc - terms of transaction were not disclosed..  Full Article

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Breakingviews - Big Weed is better off without Big Tobacco embrace

NEW YORK (Reuters Breakingviews) - Big ambitions require investment, but not all infusions of capital are equal. Cronos, the Canadian pot producer, is in early talks with Marlboro maker Altria, Reuters reported on Monday. An association with a huge tobacco company isn’t exactly what this nascent industry needs.