Shares of Constellation Brands (NYSE:STZ) rose 0.1% in pre-market trading after the company reported Q4 results.
Quarterly Results
Earnings per share were down 11.65% over the past year to $1.82, which beat the estimate of $1.55.
Revenue of $1,953,000,000 up by 2.63% year over year, which beat the estimate of $1,870,000,000.
Looking Ahead
Earnings guidance hasn’t been issued by the company for now.
Revenue guidance hasn’t been issued by the company for now.
Conference Call Details
Date: Apr 08, 2021
Time: 11:30 AM
ET Webcast URL: https://edge.media-server.com/mmc/p/obsxoora
Technicals
Company’s 52-week high was at $242.62
Company’s 52-week low was at $149.01
Price action over last quarter: Up 2.05%
Company Description
Constellation Brands is the largest 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.
