The Buzz
All markets and investing news all the time

IKRUSH IKRUSH Womens Pointed Hannah Faux Suede Pointed Hannah Boots bf89e6f

Item specifics

New with box: A brand-new, unused, and unworn item (including handmade items) in the original packaging (such as ... Read moreabout the condition
Color: BLACK Style: Ankle Boots

IKRUSH IKRUSH Womens Pointed Hannah Faux Suede Pointed Hannah Boots bf89e6f -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
IKRUSH IKRUSH Womens Pointed Hannah Faux Suede Pointed Hannah Boots bf89e6f
IKRUSH IKRUSH Womens Pointed Hannah Faux Suede Pointed Hannah Boots bf89e6f -

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%.

IKRUSH IKRUSH Womens Pointed Hannah Faux Suede Pointed Hannah Boots bf89e6f

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
IKRUSH IKRUSH Womens Pointed Hannah Faux Suede Pointed Hannah Boots bf89e6f -
About This Author
IKRUSH IKRUSH Womens Pointed Hannah Faux Suede Pointed Hannah Boots bf89e6f -
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
Forever Women's Lindsay-77 Pointed-toe High Heel Dress Ankle BootiesEASY SPIRIT Size 7 M Black "Eskuma" 3" Wedge Heel Ankle Boots Shoes Booties EUCTWO LIPS black suede leather woven comfort riding boots 7.5 , Sporto Mimi Black Synthetic Mid-Calf Boots Women Size 8.5 M New , Soho Shoes Women's Closed Toe Velvet Floral Embossed Chunky Heel Ankle BootsIKRUSH Womens Abigail Faux Suede Knee High Boots , Weatherproof Champagne Quilted Zip Front Grace Ankle Boot NewBanana Republic Black Pull On Leather Heels Ankle Boots Booties Womens Size 10 BGigi-43 Thigh High Over Knee Graffiti Print Pointy Toe Stiletto Heel Boot BlackIKRUSH Womens Annabelle Faux Leather Pointed BootsIKRUSH Womens Annabelle Faux Suede Pointed BootsDark Brown Cable Knit LL BEAN Tall Boots w/Faur Fur Trim Worn Once US 7 , Libby Edelman Fayina Black Quilted Puffy Ankle Boots 8.5 NewWeatherproof Black Quilted Zip Front Grace Ankle Boot New , Betani Women's Milada-21 Faux Suede Pointed Toe Block Heel Dress Ankle BootsNEW Womens Isaac Mizrahi Live Andrea Suede Wedge Boots Espresso Sz 6 M ASO QVC! , URBAN Athletics Mono Black Sneakers Shoes size US 10 , Bare Traps Kelyn Block-Heel Ankle Booties Black 7 1/2 M 7.5Lamo Purple Suede Button Detail Faux Fur Mid Calf Boots NewSC35 Lolah Triple Strap Mid Wide Calf Riding Boots, Black , Shoes Block Heeled Buckled Combat Spiked Womens Slip On Boots US 4-7.5IKRUSH Womens Sarah Studded Knee High BootsBare Traps Tommy Womens Riding Boots with Buckles - Choose Medium or Wide Calf , NEW Womens Isaac Mizrahi Live Abby Leather Riding Boots Black Sz 5 M ASO QVC! , Womens Leather Fuzzy Boots Size 10 Suede Faux Fur Mid Calf Brown Tan , New Womens Girls Flat Army Biker Military Fur Lined Winter Ankle Boots Size 3-8Sporto Nan Grey Suede & Faux Fur Mule Bootie Shoe NEW , Soda Womens Ankle Boots 8 Black New NWOT , New Women High Block Heel Buckle Platform Round Toe Shoes Ankle Boots Fashion ,
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 Etienne Aigner Dorian Brown Leather Buckle Ankle Boots Size 10 MKays Women Fashion 2.375" Heel Zipper Boots Women Size 4 to 7Seven Dials Senorita Knee High Boot Black Women's Size 10M , Women's Antonio Melani Dark Brown Suede Fur Knee High Zip Fashion Boots Sz.7 , Womens Boots Suede Waterproof BLACK RARE Size 9.5 M Sporto Side Winder NEWB35 Wiley Studded Cutour Ankle Boots, Banana Bread , Vince Camuto Kantha Over the Knee Boot Black Suede Size 9.5$199 BCBG Max Azria Womens Lexy Knee High Moc Boots Shoes,Dark Caramel,US 8.5 , Michael Antonio Women's Sugar Ankle Bootie, Black, 10 W USDr Scholls Suede Women Size 8M Block Heel Cheer Booties EUCMuk Luks Women's Luna Buckle Brown Boot 7MTopshop Silver Metallic Krazy Snakeskin Low Funky Point Ankle Chelsea Booties 39 , EUC Montrail Blue Ridge Gore-Tex Hiking Boots Women US 11 Leather MountaineeringNEW Steven By Steve Madden Shooter Kiltie Bootie Red Leather SZ 6 , Frye Flat Boots Leather Caramel Size 6 , DOLCE VITA CALINDA WOMEN'S TAN LEATHER PLATFORM BACK ZIP BOOTS SIZE 6.5 MWomens Dansko Professional Patent Navy Crinkle Casual Clogs 706750202 Size 37-42 , Stuart Weitzman Exflat Peep Toe Ballet Flats, Adobe, 7.5 US Display , Women's Stuart Weitzman Bronze gold neutral Mach1 Patent Leather Loafers Size 10Jeffrey Campbell Chantae High Heel Sandal Shoes Womens Beige Fashion FootwearVINCE NIB Maxwell in Cream Off White Leather Round Toe Ballet Flats US 8/Women Oxford Opinted Toes Flats Heels Casual Summer Hollow Out Comfort Shoes NewNIB Christian Louboutin Toerless Muse Black Leather Strappy Cage Ballet Flat 38 , SPRING STEP Women's VALENTIN Bordeaux Dk Red Leather Loafers Size 5.5MNew Balance 574 Sport Women's Light Slate WS574WB , Sneakers Femme samples shoes ETNIES ZANZA EGG PLANT WOMENASICS Womens T6d6n Aquarium/FlashCoral/BlueJewel Running Shoes Size 10 (362323)Puma soleil V2 Comfort Fun Color Black Puma Silver Free ShippingWomen's LPB Boot Benedicte Brown BootsBrooks Ghost 8 Womens Running Shoes (B) (038) + Free Aus Delivery ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
IKRUSH IKRUSH Womens Pointed Hannah Faux Suede Pointed Hannah Boots bf89e6f Boots
Powered by VIP.