Corona, Modelo beers drive Constellation beat, wines leave a stain

Bottles of Constellation Brands Inc. Corona beer sit in the cooler of a bar in Ottawa Illinois U.S. on Tuesday

Constellation is the No. 3 beer company in the US with high-end, iconic imported brands such as the Corona and Modelo brand families and Pacifico.

TRADEMARK VIOLATION WARNING: "California State Teachers Retirement System Buys 4,443 Shares of Constellation Brands, Inc".

Beer sales rose 9.3% to $1.09 billion (€970 million) in the fourth quarter ended 28 February as its brands Corona Premier, Familiar and Modelo Especial gained market share in North America during the winter holiday season. Canopy sells pot in Canada and is targeting the USA hemp market.

Constellation also will soon roll out its new Corona Refresca beverage, a flavored malt beverage targeting women.

It will also introduce Modelo Chelada Limón y Sal, a traditional Mexican beer with lime and salt, to strengthen its hold on the Hispanic beer drinking market, which is its biggest. (WEED.TO) can reach $1 billion in annual sales next year.

"(The sale) enables us to continue to strategically focus on our powerhouse, high-margin, high growth brands", said Chief Executive Officer Bill Newlands.

Looking ahead to the 2020 fiscal year, the company said that it sees comparable earnings of $8.50 to $8.80 per share, with operating income from its beer division rising between 7% and 9%, while wine and spirits are expected to see a net decline in sales of 25% to 30%.

The New York-based alcohol producer brought in earnings of $1.84 per share on revenue of $1.79 billion for the quarter, compared to Street expectations of $1.72 EPS on revenue of $1.73 billion.

"We're comfortable with the divestiture".

Beer continues to lead the way for Constellation, with sales up 11.6% to $5.2 billion and operating income increasing 11% to $2 billion. Altman has a stake in the brewer.

The company reported Thursday that it saw profits of almost one-and-a-quarter billion dollars for its fiscal fourth quarter, and sales totaling almost $2 billion.

Constellation earned an adjusted profit of $1.84 per share on sales of $1.80 billion in the fourth quarter.

Related News:

Most liked

Mike McCarthy denies 'utterly absurd' massage accusations
As Dunne reports, the massage therapist would be snuck into McCarthy's office while the team meeting was going on. McCarthy allegedly scheduled secret massages in his office while allowing assistants to run team meetings.

Space X’s starship takes off on test trip
It is a key component of the hardware that will be utilized to power the Starship and massive Super Heavy booster. It will be used to conduct more hover flights in future before launching the Starship into deep space.

Nintendo is bringing virtual reality to 2 of its biggest Switch games
Both Super Mario Odyssey and Legend of Zelda: Breath of the Wild will receive a free update that will provide VR support. Once the update is available, users will simply need to turn on their Toy-Con VR Goggles in the settings of the game.

Apple 'repaired' thousands of fake iPhones before it smelled a scam
Altogether, Quan Jiang and Yangyang Zhou are being blamed for stealing $895,000 worth of iPhones from Apple through this scheme. Two men allegedly scammed Apple out of almost $900,000 by essentially trading the company fake iPhones for legitimate devices.

Putin says body of missing Israeli soldier found by Russian army
He was one of three IDF soldiers whose bodies were found in the aftermath of the tank battle. Baumel moved to Israel with his parents and siblings from Brooklyn in 1970.

Accused shooter to undergo mental assessment
Tarrant, who was charged with one murder a day after the shooting attack, was also charged with 39 attempted murders on Friday. The government has also said it will review laws dealing with hate speech.

Fans show concern for Zayn Malik as he shares cryptic posts
If you're a Gigi fan , you may know that she's been on-again, off-again with former One Direction member, Zayn Malik . Following headlines and comments suggesting Gigi Hadid had something to do with the Tweets, Zayn lashed back.

Bengals' RB Mark Walton arrested for third time in three months
Cincinnati Bengals running back Mark Walton was arrested for the third time in fewer than three months Thursday in Miami. The 21-year-old now faces felony charges of carrying a concealed weapon, marijuana possession and reckless driving.

Amazon launches HIPAA-compliant Alexa skills for healthcare
Alexa: Amazon is inviting select developers to create and launch HIPAA-compliant healthcare skills for its virtual assistant. Alexa skills can transmit and receive patients' protected health information, according to a blog post from the tech giant.

Trump threatens 25 percent tariff on Mexico-made vehicles
Mr Trump also denied that he changed his mind about shutting down the border with Mexico , a threat he backed off on yesterday. On the U.S. side, dozens of people lined the road that Trump's motorcade took, demonstrating support for his policies.

DeMarcus Lawrence gets $105 million payday from Cowboys
That may have been due to the player delaying surgery on a torn labrum he played through last season until he had a new deal. Although the likelihood that they all get new deals this offseason is fairly low, the Lawrence extension should spark more.

India debris expected to burn up in atmosphere: Pentagon
India is now the fourth country to have tested ASATs, the others being the U.S. , the Soviet Union, and China. Shanahan said he believed that India had avoided a similar scenario by testing at a lower altitude.

Mick Jagger Recovering After Undergoing Heart Surgery
The tour was set to begin in April, but is now being pushed to July and dates are expected to be announced in the following weeks. In a tweet Jagger, 75, thanked hospital staff "for doing a superb job" as well as fans for their messages of support.

WhatsApp Business launches on iPhones
Business Profile allows one to share useful information about one's business like a description, email, store address and website. Two weeks ago we reported that the long-awaited WhatsApp Business app for iOS is now available in the app store in some markets.

Motorola Smartphone With Quad Cameras Arriving Later This Year; Renders Leaked
What will this new Motorola smartphone be called? The display has a cool waterdrop notch at the top holding the selfie camera. There is a fingerprint scanner at the rear, which means the P40 Power would not have an in-display fingerprint sensor.