The Buzz
All markets and investing news all the time

Brown Clarks 27378 Bendables Size 8 Bendables 1/2 Work Work Shoes Heel 07f352a

Item specifics

Pre-owned: An item that has been used or worn previously. See the seller’s listing for full details and ... Read moreabout the condition
Brand: Clarks
Color: Brown Style: Heels

Brown Clarks 27378 Bendables Size 8 Bendables 1/2 Work Work Shoes Heel 07f352a -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Brown Clarks 27378 Bendables Size 8 Bendables 1/2 Work Work Shoes Heel 07f352a
Brown Clarks 27378 Bendables Size 8 Bendables 1/2 Work Work Shoes Heel 07f352a -

The beer trade has been a good one for Constellation.

Bottoms up! Constellation is cashing in on America's love affair with Corona.

Shares of Constellation Brands (STZ) opened sharply higher Wednesday after the beer and wine company reported strong quarterly results, although the stock has now fallen back.

The buzz kill came after Constellation executives said on a conference call with analysts that the cost of expanding a brewery in Mexico would be much higher than previously expected.

The company raised its estimate for the cost of upgrading its Nava brewery to a range between $900 million and $1.1 billion, up from the previous estimate of between $500 million to $600 million. So far, Constellation has spent about $140 million on the brewery.

Robert Ryder, Constellation's chief financial officer, tried to put a positive spin on the news.

"Despite the increased cost to build out the brewery, our improved commercial results should keep our cash flow and delivering goals intact," he said.

Constellation said net income surged 92% in the fourth quarter to $157 million, or 79 cents per share. Analysts were expecting the company to report earnings of 76 cents per share, according to FactSet.

Corona is the best-selling imported beer in the United States, according to Constellation CEO Rob Sands.

Sales rose to nearly $1.3 billion, thanks largely to about $600 million from Crown, the division that distributes Modelo brand beers, including Corona, in the United States.

"We had a great year, driven by our beer business," Sands told analysts on a conference call today.

Constellation paid $5.3 billion to take full control of Crown last year as part of a complex deal between Anheuser-Busch InBev (BUD) and Mexico's Grupo Modelo.

The deal was held up in court after the U.S. government sued to block it over anti-competitive concerns. But regulators relented after AB InBev and Modelo gave Constellation "perpetual rights" to distribute the popular Corona beer in the U.S. market and tossed in a major Modelo brewery.

Related: Why six-packs are pricier in some markets

So far, Constellation's bet on Mexican beer is paying off.

Net sales in the beer segment rose 13% in the fourth quarter " due to volume growth driven by strong consumer demand," the company's report states.

The strength in beer helped offset softness in sales of wine and spirits, which grew only 1% in the quarter.

Constellation expects beer sales to continue growing in its current fiscal year and is looking for income to grow "in the low to mid 20 percent range."

That should lead to better-than-expected earnings. Constellation is now targeting earnings of between $3.75 to $3.95 per share for the full year, which would translate to earnings growth of up to 27%.

Brown Clarks 27378 Bendables Size 8 Bendables 1/2 Work Work Shoes Heel 07f352a

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Brown Clarks 27378 Bendables Size 8 Bendables 1/2 Work Work Shoes Heel 07f352a -
About This Author
Brown Clarks 27378 Bendables Size 8 Bendables 1/2 Work Work Shoes Heel 07f352a -
Ben Rooney
Staff writer, CNNMoney

Ben Rooney is a staff writer for CNNMoney. He covers the European debt crisis and other international finance stories, in addition to writing about stocks, bonds, investing and other Wall Street-related news. Follow Ben on Twitter: @ben_rooney

To view my watchlist

Not a member yet?

Sign up now for a free account
Stupid Stock Move of the Day
#StupidStock Move of the Day! Yes, Urban Outfitters may be finally turnings things around. But $URBN up 17%? Seems a bit excessive, no?
Most Popular
You won the $1.5 billion Powerball! Here's your tax bill
Womens Ladies Rainy Rubber Boots Rain Shoes Water Waterproof Safety Kitchen , Clarks Mules Clogs Womens 9 M Leather Dark Brown Slip On ComfortBOBS BY SKECHERS WOMEN'S HIGHLIGHTS HIGH JINX SHOES,34101/BLK,US SIZE 9.5,MEDIUM , BOC BORN CONCEPT PEGGY WOMENS CLOGS LEATHER BLUE TOOLED FLORAL SIZE 7 m , Josef Seibel Womens Shoe Size 39/8.5EUR Brown Leather Loafers I17 , New Alpine Swiss Calla Women's Leather Lined Calla Ankle Strap Ballet Flats , CIRCA Comfort JOAN&DAVID Black LEATHER Women's Lady's Size 7.5 LOAFERS Shoes , Bjorndal Women's Leather Snake Print Brown Clogs Shoes Ergonomic Comfort Nurse , Nautica Sneakers For Womens Size 6.5 Brand New NWOT Retail $69 Plus A Free GIFT!PROPET WOMENS SZ 9 GREY WASH/WEAR UPPER SUEDE COMFORT SHOES W/ ZIPPER , Ralph Lauren polo sport women's 7.5 blue canvas sneaker , SAS Simplify Metallic Gold Loafer Shoe 7 W Slip On Moccasin TriPad Comfort , Womens Flowers Strappy Flip-Flop Sandals Casual Sneakers Occupational Flat ShoesSPRING STEP HAPPY CLOGS MULES SLIDES WOMENS 8 39 Brown LEATHER BUCKLE ACCENT , Klogs Brown Pebbled Leather Studded Slip-On Cushioned Mule Clogs Women's US 8WKlogs Duncan Women's Polyurethane Clogs Display Model White 10 W , Shoes for Crews Slip Resistant Shoes Trey Black Womens Size 10 4058Baretraps womens Shoes Jannette size 8m brown leather mules , B.O.C. WOMEN'S SHOES CANVAS LOAFERS SIZE 7 - 9 RED GRAY SLIP ON NWTWomens DANSKO Clog Mules Shoes, Size 38, Solid Black, Comfort Classic Dress , Vintage gift idea SHOES MODERN DECOR free YOUNG WOMEN GIRL family COLOR EVENTMOZO Womens 7.5 Zoe Brown Paisley Leather Nursing Slip-Resistant Shoes Clogs EXC , SAS Womens 11 S Beige Leather Shoes Oxford Free Time Tripad Comfort WalkingDansko XP 41 Black Leather work nurse clogs occupational shoes professional slip , Fashion Womens Round Toe Fur Skateboard Casual Sneakers Occupational Flat ShoesLANDS END Jungle Clog Slip On 5M Womens Red SuedeWomen's Skechers Relaxed Fit Memory Foam Loafers- Black - Size 8 , Patagonia Brown Nubuck Leather Better Clog Deep Espresso Size 10.5Dansko Matte Black Leather Slip Resistant Clogs
Powerball winner can stay anonymous, judge rules
Counterfeit goods market is booming and becoming more dangerous
Kodak ditches digital cameras, will focus on photo printing Earth Womens Green Suede Ankle Boots Size 9.5 M , Buckle Riding Knee High Vegan Leather Boot Black , $159 BCBG BCBGeneration Womens Wexler Tall Napa Stretch Boot Shoes, Onyx, US 7 , J. Renee Ellyn High Heels-Women's Size 10W, Blue , Jennifer Lopez Women's Over-the-Knee Platform Boots Sizes: 6, 8 & 81/2 BRAND NEW , Bearpaw Girls Meadow Toddler Winter Boot Shoe, Chocolate, US 10ZARA STRETCH FLORAL PRINT FABRIC HIGH HEEL ANKLE BOOTS POINTED TOE REF.1113/201 , ECCO 10 M 42 Black Leather Mid-calf Boots Plain Toe Zip Pull Buckle Shoes Womens , Eric Michael Alaska Boots - Women's Size US:10.5-11 / EU:41, NavyTommy Hilfiger Womens Nola Almond Toe Mid-Calf Fashion, MultiColor, Size 6.5Clarks Originals Desert Boot Women Suede Chukka Shoes 26111497 Midnight BlueARTURO CHIANG WOMEN'S EZURE LEATHER EQUESTRIAN RIDING BOOTS $169.00 5L'Amour des Pieds Freddae Loafer Pump- Women's Size 6 M, Taupe , Women's Rockport Moccasins Suede Navy Size 7.5 M 1035Gatsby Bite me Black Velvet Jon Josef Loafer Flat , Anthropologie Bisue Ballerinas Blue Multicolored Floral Soft Velvet Flats US 10Sanuk W CALICHILL Womens Calichill Flat- Choose SZ/Color.PARKER ROCHE Women's Shoes Size 37 Black Patent Leather and Suede Loafers , Lanvin Paris Nude Tan Grain Leather Classic Ballet Flats Size 7.5 $399Oxford Nine West Vada Oxford Pure White DeluxBrand New FRYE Helena A Line Flats Size 10 B Taupe Ash , Propet Chloe - Blue - Womens , CLARKS Griffin Mia Black Leather Shoes sz US 11.5 NEW in BoxJ Crew Pom-Pom Suede Colorblock Flats 6 G1953 Womens Shoes FlatsBearpaw Women's Helena Pull On Boot Indigo Cow Suede Winter BootsSkechers BOBS from Women's Bobs Squad-Alpha Girl SneakerWomen's Hadliegh Flats Sz 39 Flats , New Adidas Originals WOMEN'S Running Ultra Boost 4.0 - BB6149 Black , New Balance Women's WL574 Beach Cruiser Pack Classic Running Shoe Mineral Pin...Dansko Women's Harmony Fashion Sneaker - Choose SZ/Color
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Brown Clarks 27378 Bendables Size 8 Bendables 1/2 Work Work Shoes Heel 07f352a Comfort Shoes
Powered by VIP.