The Buzz
All markets and investing news all the time

Marc Fisher Womens Brown Sz Leather Tall Boots VERIFIES Suede Tall Wedge Heels Brown Sz 10 NEW fcab7de




Marc Fisher Womens Brown Sz Leather Tall Boots VERIFIES Suede Tall Wedge Heels Brown Sz 10 NEW fcab7de - hollisbaker.com

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Marc Fisher Womens Brown Sz Leather Tall Boots VERIFIES Suede Tall Wedge Heels Brown Sz 10 NEW fcab7de
Marc Fisher Womens Brown Sz Leather Tall Boots VERIFIES Suede Tall Wedge Heels Brown Sz 10 NEW fcab7de - hollisbaker.com

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%.

Marc Fisher Womens Brown Sz Leather Tall Boots VERIFIES Suede Tall Wedge Heels Brown Sz 10 NEW fcab7de

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Marc Fisher Womens Brown Sz Leather Tall Boots VERIFIES Suede Tall Wedge Heels Brown Sz 10 NEW fcab7de - hollisbaker.com
About This Author
Marc Fisher Womens Brown Sz Leather Tall Boots VERIFIES Suede Tall Wedge Heels Brown Sz 10 NEW fcab7de - hollisbaker.com
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
Contributors
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
 
Jessica Simpson Women's Ricel 2 Wide Calf Knee High Leather BootsCasadei Brown Leather Buckled Pointed Toe Ankle Boots SZ 11BIro Suede Fringed Booties Tan Size 41 Great Condition RRP $800 , Skechers Women's 49013/CHOC Bikers Totem Pole Boots Size 7, Chocolate 978Womens Black Over Knee Thigh High Boots Platform Pull On Shoes Casual SneakersNike Wmns Roshe One Hi Print with tiny defect Camo Womens Boots 807425-001 , Justin Womens Shoes Size 5.5 Black Textured Leather Cowboy Western BootsPleaser 5" Stack Heel Block Platform Shiny White Stretch Gogo Knee Boots 6-16Zara Laminated Goat Leather Ankle Boots , Womens 7 M Crocs Pink Woven Winter Boots Iridescent A070 , Vince Camuto Ankle Boot Stacked Heel Women size 9.5 Tan LeatherLL BEAN Suede Power Modes Winter Womens Boots 9 M , NEW Women's EMU Tarlo OTK Suede Leather Boots, Mushroom, Sz 8.0 M - Take a look , Jessica Simpson Women's Tandra Ankle Bootie Leather Brown Size 9NATURALIZER Juletta Womens Black Knee High Boots Riding Leather Sz 6 M NIB $205Bed Stu Womens Tess Tall Riding Boot - Windsor Tan Glaze Size 6 NWB , Joules Women's Molly Welly Knee-High Rubber Rain Boot , Dr. Martens Shoreditch Cherry Red Canvas Ankle Booties Boots Shoes Size:8456 Frye Melissa Button Short Cognac Leather Ankle Boot Women's Sz 7 B , Women Fashion Plus size Snow Winter Warm Waterproof mid calf Ladies Fur bootsPIKOLINOS Cornblooms Women’s 38/US 8 OlmoBrown Leather InSide Zip Mid-Calf BootsAlejandro Ingelmo Black Leather Cece Wedge Boots with Silver Buckles Size 40 10Ladies' Dr. Martens UK Made Green Leather Ankle Boots UK Size 3 , Dingo Women's brown Leather Western Style Ankle Boots Size 8 MGap Womens Leather Block Heel Tall Boots / Over The Knee Black Ink Size 8.5Handmade Ladies Brown Narrow Square Toe Western Boots - 2616 - Size 6 , Rocket Dog Women's Soundoff Fashion Western Boots - Brown , Abilene Women's Dark Brown Leather Western Cowboy Cowgirl Boots Vintage Size 7.5KAMIK OF CANADA WOMEN'S HEIDI WATERPROOF RUBBER BOOT, MADE IN CANADA
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 Female Autumn Winter Cotton Korean Version Plus Velvet Warm Bread Snow Boots , Women's Nine West Poppy Yo Size 7M Ankle Boots Brown Leather Zip Up Buckle Q8KS Donnely two toned Black Boots womans size 7 1/2 usedSperry Top Sider STS81674 Saltwater Women's Rainboots SZ 7.5MLadies Spot On Ankle Boots Label F50403✿ GIANNI BINI Territory Western Bronze Leather Boots 7.5 M EXCELLENT! L@@K!08Easy Street Womens reed Leather Almond Toe Ankle Fashion Boots, Tan, Size 9.5 MNBlack 60s Spy GoGo Boots Wide CalfWomen Knee High boots Punk Buckle Straps Chunky Heel Riding Shoes Plus Size R550Naturalizer Womens blythe Suede Pointed Toe Ankle Fashion BootsGeox D Inspiration C D5409A Leather Knee High Boot Womens Size US 10,5M NIBAlfani Womens Vandela2 Leather Closed Toe Ankle Fashion Boots, Black, Size 7.0 k , Bearpaw Womens Phylly Closed Toe Mid-Calf Cold Weather Boots, Hickory, Size 5.0SHOE DAZZLE FAUX LEATHER FLAT 1" HEEL OVER THE KNEE 23" SHAFT WRAPAROUND STRAPS , BOBS from Skechers 31354 Womens Bobs Swift-Social Hustle- Choose SZ/Color.Tommy Hilfiger Women’s Brown Leather Driving Mocassins Size 8.5Sam Edelman Felicia Black Ballet Flats Slip On Size Women's 4M NIBFitFlop Womens Anna Sui Pineapple Print Ballerina Flat Shoes, Aqua, US 10 , Free People Aquarian Bootie S 6 /36 NEW $168.- , Skechers Women's Double Up-Rhine-Steps Sneaker - Choose SZ/ColorMIU MIU Italy RARE woven metallic gold raffia / leather ballet flats sz 38 / 8 , Eileen Fisher Lee Espadrille Loafer, Women's Size 6, BlackLadies Clarks Comfortable Flats Everlay Coda , New Miu Miu by Prada Black Suede Flats Size 36 US 6 , 100% Authentic SAINT LAURENT Glitter Slip-on Sneaker Silver Metallic Size 40 / 7Mizuno Womens Wave Catalyst ElectricGreen-yellow Running Shoes Size 9.5 (C,D,W) , WMNS NIKE AIR MAX JEWELL LX SAIL-SAIL-WHITE-BLACK SZ 5.5 [896196-100]Candice Cooper Rock 01 Low Top Trainer in Navy - Size 39 , Women's Diesel boots everest taille 39 Boots , Dansko Black Occupational Professional Leather Clogs US 9 ,
 
University of Phoenix is the latest college under investigation
 
Latest Buzz Videos
See all videos
Marc Fisher Womens Brown Sz Leather Tall Boots VERIFIES Suede Tall Wedge Heels Brown Sz 10 NEW fcab7de Boots
1284188
3407927
3924444
10438591
11847794
12582228
14602007
16613647
17133023
Powered by WordPress.com VIP.