The Buzz
All markets and investing news all the time

Women's Booties Boots Aldo Fringe Booties 27089 Boots 1fb71a2

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
Style: Booties
Brand: Aldo

Women's Booties Boots Aldo Fringe Booties 27089 Boots 1fb71a2 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Women's Booties Boots Aldo Fringe Booties 27089 Boots 1fb71a2
Women's Booties Boots Aldo Fringe Booties 27089 Boots 1fb71a2 -

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%.

Women's Booties Boots Aldo Fringe Booties 27089 Boots 1fb71a2

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Women's Booties Boots Aldo Fringe Booties 27089 Boots 1fb71a2 -
About This Author
Women's Booties Boots Aldo Fringe Booties 27089 Boots 1fb71a2 -
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
Women's dolce vita Boots , Women's cuissardes vinyle noir p41 Boots , Women's Rampage Ladys Boots Boots , Women's born boot BootsWomen's Merrell women sheep skin boots Boots , Women's Bogs women boots 7 BootsWomen's Prada Black Leather Boots Boots , Women's THE FLEXX. BOOTS/ size 9 Boots , Women's BCBG Craftee Women's Boots Sand Boots , Women's Jeffrey Campbell bronze booties Boots , Women's Brown Pirate Boots Boots , Women's Arturo Chiang Boots size 6 Boots , Women's Womens Stetson Boots Size 8.5 Boots , Women's Merrell Womens 6M Boots BootsWomen's INC Fedee Women's Boots Cement BootsWomen's Sporto Women's Daphne Boots Boots , Women's PRADA Suede Booties Size 7 BootsWomen's Women's size 8A NOCONA boots Boots , Women's Max Studio Wisp Booties Boots , Women's Black Suede Slouch Boots SZ6 BootsWomen's cuissardes vinyle noir p42 Boots , Women's Womens Trouve Shoes Boots , Women's jeffrey campbell 9 Boots , Women's Alfani Jadah Women's Boots Cognac BootsWomen's Womens Western Boot Size 9.5 Boots , Women's Helens Heart Nude Buckle Boots , Women's Shi by Journeys Womens Bootie BootsWomen's Harley-Davidson-Women's-Motorcycle-Boots-Black-Size-6 A7305987 Oil Resistant BootsWomen's Crosswalk Pico Ankle Booties 9-91/2 Boots ,
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 Karen Scott Soft Step Vicky Boots Size 8M Black Leather Pull On Low HeelNURTURE REED Brown Leather Zip Knee High Fashion Boots Size 8.5 MKS35 Falonn Ankle Boots 300, Dark Grey, 8 US , Steve Madden Lymlite Leather Booties 7KEEN Boots Women's Size 6.5 Hiking Lightweight Black Leather #B1779Rock & Candy Spraypaint Foldover Ankle Boots, Black Blue, 7 USUNLISTED by KENNETH COLE Women's FILE NOW Black Ankle Booties US 10 (LB21189NV) , Arizona York Womens Bootie Chestnut Size 9Mwomen's shoes 2 STAR 8 () ankle boots black leather glitter BX374-38BORN AVALA Women's Black Classic Knee High Leather Boots Block Heel 9 M NWOB , Circa Joan & David Talaro Brown Leather Knee High Boots Women’s Size 7.5 M* , NIB Corso Como Williamsburg Braided Strap Bootie Heel 8.5 M Chestnut Brown $178 , Carlos Santana Hawthorn Women's Boots Black , Fergalicious Womens Crissy Closed Toe Ankle Fashion Boots Black Size 10.0 ePGYNew Mia Girl NM1939 Gypsie Natural Faux Leather shoes size 10 , Michael Antonio, Women's BROWN & GOLD GLITTER Boots, Knee High, Size 7.5MBoots Impo Cheetah Suedy Stretch with Zipper. Size 8.5 M. Style Camel NorrisTory Burch Womens Suede Ballet Flats Size 9MCole Haan Country Women's Leather Loafer Flat Burgundy SZ 9.5 B NewJessica Simpson Women's Dalasia Oxford - Choose SZ/Color , Women New Metallic Furry Rabbit Fur Loafers Shoes Winter Slip On Leather Flat OL , NIB 100% AUTH Saint Laurent Paris sequin Skate shoes sneakers 37 $795 , Chloe Women's Scalloped Black Leather Pumps Size 36.5EU / 6.5US Retail $550 , PAL-601 Alegria Womens Paloma Flat (Classic Black Napa) , Lilo and Stitch Pattern Women Men Hand-painted Canvas Shoes Boy Girl's Sneaker , Women's Chic Sports Outdoor Sneakers Running Athletic Walking Breathable Shoes , Sam Edelman Augusta Scalloped Edge Loafer 6 M Ink Blue Suede New with Box , Altra Lone Peak 3.0 Neoshell Running Shoe- Women's Size 9.5, Gray , Mizuno Wave Daichi 2 Womens Trail Running Shoes Size 9.5 M Blue 410885 AthleticPropet Women's Ghillie Walker Slingback Sandal Tan Full Grain Leather ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Women's Booties Boots Aldo Fringe Booties 27089 Boots 1fb71a2 Boots
Powered by VIP.