The Buzz
All markets and investing news all the time

Women's Josef Seibel Lucia Josef 09 Women's (Olive) (Olive) Flats e73b8e9




Item specifics

Condition:
New with box: A brand-new, unused, and unworn item (including handmade items) in the original packaging (such as ... Read moreabout the condition
Brand: Josef Seibel
MPN: Does not apply

Women's Josef Seibel Lucia Josef 09 Women's (Olive) (Olive) Flats e73b8e9 - hollisbaker.com

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Women's Josef Seibel Lucia Josef 09 Women's (Olive) (Olive) Flats e73b8e9
Women's Josef Seibel Lucia Josef 09 Women's (Olive) (Olive) Flats e73b8e9 - 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%.

Women's Josef Seibel Lucia Josef 09 Women's (Olive) (Olive) Flats e73b8e9

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Women's Josef Seibel Lucia Josef 09 Women's (Olive) (Olive) Flats e73b8e9 - hollisbaker.com
About This Author
Women's Josef Seibel Lucia Josef 09 Women's (Olive) (Olive) Flats e73b8e9 - 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
 
Women's Fergalicious Women's Addison Ballet Flat FlatsWomen's Clarks Women's UN Lory Loafer Flats , Women's Minnetonka Women's Full Leopard Mocassin FlatsWomen's Minnetonka Women's Ibiza Sandal FlatsWomen's Franco Sarto Women's Valera2 Flat FlatsWomen's Yellow Box Womens Brenda Flats Flats , Women's Yellow Box Women's Mariko Sandal Flats , Women's Jessica Simpson Women's Lainie Skimmer Flats , Women's Steve Madden Womens Chancce Flats , Women's Jessica Simpson Karalia Women's Sandal FlatsWomen's Trotters Women's Ash Loafer,Fudge,7 N Flats , Women's Naturalizer Women's Rhapsody Gladiator Sandal Flats , Women's Nine West Women's almamater Sandal FlatsWomen's Nine West Women's Tikihut Sandal Flats , Women's Very Volatile Women's Finesse Pump Flats , Women's CLARKS Women's Cheyn Ava Oxford Flats , Women's Skechers Women's BOBS B-Loved Flat Flats , Women's Jessica Simpson Women's Mandayss Flats , Women's Bernie Mev Womens Rigged Force FlatsWomen's Clarks Women's Kessa Myrtle Flat FlatsWomen's Skechers Women's Moda-Slide Thru Flats , Women's Jessica Simpson GENNYFER Flat Flats , Women's Emmie Leopard Lucky Brand FlatsWomen's VANELi Womens Adonis FlatsWomen's Geoffrey Beene Size 6M Flats FlatsWomen's Steve Madden Women's Rubby Flat FlatsWomen's L'artiste Tayla Mary Jane (Brown) FlatsWomen's Naturalizer Women's Clarissa Slip-on Shoe Flats , Women's NEW MIISTA WOMENS LOAFER Flats ,
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 Tecnica Moon Boots The Original Yellow Size 39-41 US Womens 8.5-9.5 Mens 7-8 , Rocket Dog Boots Temecula Natural Brown Women's size 8Born black leather tall boots sz 7 riding low heel buckles zipper , I35 Fedee Harness Strap Riding Boots 264, Black, 10.5 US , Steve Madden Women's Fairmont Distressed Leather Riding Boots, Brown, Size 7.5Womens Columbia Heavenly Omni Heat Slip Waterproof Insulated Winter Boots QuarryNIB Lands End Womens Leather Short Boots 10 , Phyllis Poland Black Soft Leather Knee High Boots Italy$450 Stubbs & Wootton Palm Beach Needlepoint Loafer Oxford Slippers Flats Sz 6.5 , Womens Dansko Professional Patent Blue Tile Casual Pro Clog 606550202 Size 36-42 , Vivienne Westwood Animal Print Flat Buckle Detail Size 9 New In Box NIB , Rebecca Minkoff Women's Faye Pointed Toe Flat, Dark Maroon, 8 M USAndrew Geller Women's Angie Flat Bleach 6 M US , NEW 3.1 PHILLIP LIM WOMENS HAYETT LUG SOLE OXFORD , Women's shoes. Sergio Rossi, 36.5 , new. Dark blue. Suede , Valentino Suede Ankle Wrap Ballerina Flat, 38, Pink , Aravon Women's Mila - Choose SZ/ColorOpening Ceremony BINX Flatform Platform Sneaker, White w// Black Leather Trim 40NIKE Lunarconverge Womens Sz 7.5 White Running Athletic Sneaker Shoes F3-148New Sperry STS82119 Seaport Levy Navy Blue Women's Casual Shoes 8.5 US , New Tory Burch Womens Billy 2 Blue Loafers Size 8 , Womens Wedge Med Heel Embroidery Athletics Sneakers Flowers Breathable Shoes sz , Merrell Harness Leather Mules Brown Clogs Women's 8 Slip On Comfort Shoes R1S1CC RESORTS SANDRA ELASTICIZE SPORTY CASUAL SHOES SNEAKERS SOFT & COMFORTABLE , New Sam Edelman Womens Britton Sand Fashion Sneaker Size 9Carisma black suede zip up knee high boots Women's shoes size 9 , NEW! Covington 25689 Womens Taylor Black Boots 129A, 129B, 129C, 129D pa , Miz Mooz Fashion Boots Knee-High Brown Leather Women Sz 8.5ASICS fuzeX Knit Women's Flash Coral/Black/Safety Yellow 8790690Air Jordan 3 Retro SE AWOK Women’s Shoe Women’s Size 5! Black/Sail.
 
University of Phoenix is the latest college under investigation
 
Latest Buzz Videos
See all videos
Women's Josef Seibel Lucia Josef 09 Women's (Olive) (Olive) Flats e73b8e9 Flats
1557667
2804534
5401160
5874278
9504115
9861899
10780067
11879723
14138521
Powered by WordPress.com VIP.