Market Overview

Constellation Brands: Q1 Earnings Insights

Share:

Shares of Constellation Brands (NYSE:STZ) rose 3% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share rose to $2.44, which beat the estimate of $2.01.

Revenue of $1,963,000,000 decreased by 6.39% from the same period last year, which missed the estimate of $1,970,000,000.

Looking Ahead

Constellation Brands hasn't issued any earnings guidance for the time being.

Constellation Brands hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: Jul 01, 2020

Time: 11:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/jfyvhz5s

Price Action

Company's 52-week high was at $212.00

Company's 52-week low was at $104.28

Price action over last quarter: Up 23.72%

Company Description

Constellation Brands Inc is the multi-category alcohol supplier in the U.S. The business is anchored by a portfolio of Mexican beer trademarks, including Corona and Modelo, for which it acquired exclusive and perpetual U.S. ownership from AB InBev. The latter had to divest these rights due to antitrust mandates as it consummated its 2013 acquisition of dominant Mexican brewer, Grupo Modelo. Constellation's wine/spirits business has been in flux, and it is currently divesting several lower-margin assets, including myriad wine brands and its Ballast Point craft beer brand. The firm imports most products after manufacturing them abroad, going to market through independent wholesalers. It owns 37% of Canopy Growth, a leading provider of medicinal and recreationally legal cannabis products.

 

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Posted-In: Earnings News