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Constellation Brands Inc (STZ.N)

STZ.N on New York Stock Exchange

217.76USD
16 Jan 2018
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$0.24 (+0.11%)
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Latest Key Developments (Source: Significant Developments)

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 

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 

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
Wednesday, 1 Nov 2017 

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

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

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

Constellation Brands takes 9.9% stake in Canopy Growth Corp
Monday, 30 Oct 2017 

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

Owens-Illinois Q3 earnings per share $0.77 from continuing operations
Monday, 23 Oct 2017 

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 qtrly reported share of $2.48
Thursday, 5 Oct 2017 

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

Constellation Brands Inc says has purchased Schrader Cellars' iconic wines
Friday, 16 Jun 2017 

June 16 (Reuters) - Constellation Brands Inc ::Constellation Brands Inc says has purchased Schrader Cellars' iconic wines.Constellation Brands Inc says terms of transaction were not disclosed.Constellation Brands Inc - agreement includes vineyard sourcing, current inventories, and eight Schrader cabernet sauvignons.  Full Article

Constellation Brands close to sell Canadian wine business to Ontario Teachers' pension- WSJ, citing sources
Monday, 17 Oct 2016 

: Constellation Bands close to sell its canadian wine business to Ontario Teachers' pension plan in deal valued at about $760 million- WSJ, citing sources .Deal could be announced as early as Monday morning- WSJ, citing sources.  Full Article

REG-Constellation Brands reports second quarter fiscal 2017 results
Wednesday, 5 Oct 2016 

Constellation Brands Inc : Increases fiscal 2017 outlook . Qtrly reported net sales $2,021 million versus $1,733 million last year . Expects fiscal 2017 reported basis EPS of $6.25 - $6.40 and comparable basis EPS of $6.30 - $6.45 . Constellation Brands Inc qtrly comparable basis EPS of $1.77 . For fiscal 2017, beer business now expects net sales growth of 16 - 17 percent and operating income growth at high teens level . Affirms fiscal 2017 operating cash flow target of at least $1.5 billion and increases free cash flow projection to $375 - $475 million . For wine and spirits business, company continues to expect net sales growth in mid single-digit range for fiscal 2017 . Now expecting lower capex for year due to shift in timing of payments related to Nava capital investments . Q2 earnings per share view $1.65, revenue view $1.96 billion -- Thomson Reuters I/B/E/S . Constellation brands reports second quarter fiscal 2017 results . Constellation Brands Inc qtrly reported basis EPS of $1.75 . Constellation Brands Inc qtrly net sales for beer increased 20 percent . Constellation Brands Inc qtrly wine and spirits net sales increased 12 percent . Now expects total capital expenditures to be $1.125 - $1.225 billion for fiscal 2017 . Agreement to purchase Utah-based High West Distillery for approximately $160 million.  Full Article

RPT-ANALYSIS-IPhone addiction may be a virtue, not a vice for investors

NEW YORK, Jan 8 Apple Inc investors are shrugging off concerns raised by two shareholders about kids getting hooked on iPhones, saying that for now a little addiction might not be a bad thing for profits.