The Buzz
All markets and investing news all the time

Skechers 12822 Relaxed Fit 12822 D'Lux Fit Empire Women Taupe Women shoe 66745ae




Skechers 12822 Relaxed Fit 12822 D'Lux Fit Empire Women Taupe Women shoe 66745ae - hollisbaker.com

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Skechers 12822 Relaxed Fit 12822 D'Lux Fit Empire Women Taupe Women shoe 66745ae
Skechers 12822 Relaxed Fit 12822 D'Lux Fit Empire Women Taupe Women shoe 66745ae - 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%.

Skechers 12822 Relaxed Fit 12822 D'Lux Fit Empire Women Taupe Women shoe 66745ae

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Skechers 12822 Relaxed Fit 12822 D'Lux Fit Empire Women Taupe Women shoe 66745ae - hollisbaker.com
About This Author
Skechers 12822 Relaxed Fit 12822 D'Lux Fit Empire Women Taupe Women shoe 66745ae - 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
 
Nike Air Max Thea Mid Black Sail White Women's Leather Boots 6.5 EUC 859550 001 , 7 Women's Nike Roshe Two LOOK AT ME orange neon Running Shoes MULTICOLOR CASUALMerrell women's Siren Sport 2 WTPF (Brindle) hiking shoes , Skechers Performance Women's Go Walk 4 Select - Choose SZ/Color , NEW BALANCE Womens 'WW577' White Leather Walking Sneakers Sz 6.5 D - 231145 , Nike Dual Fusion TR 3 Print Women's Running Shoes Black Grey White 704941-010W Nike Pre-Love O.X. Rainbow Iridescent Summit White AO3166-100 Size 6 , Nike Court Borough Mid Prem Athletic Women's Shoes SizeFranco Sarto Women's Mony Sneaker, Camel LeopardUnder Armour Street Precision Low Womens 8 Shoes Black White NEW2017 WMNS Adidas Originals Swift Run W SZ 9.5 White Grey One Ice Mint CG4138Womens Adidas Stan Smith Bold Sneakers New, White Navy ba7770 sku AANike WMNS Air Max 1 Ultra Essentials [704993-401] Women Casual Deep Blue US 6.5 , Adidas Women's Samba OG Original Indoor Leather Black Soccer Shoes - BD7686 , NEW BALANCE Womens 'WX624' White Running Sneakers Sz 6 EEEE - 232244 , NEW WOMEN RUNNING ADIZERO BOSTON BOOST 5 SHOES boost ultra s2011 Nike Girls Air Jordan 3 III Retro White Rainbow Youth SZ 4Y ( 441140-101 ) , Converse Pro Leather Ox Leather Vintage Shoes 14255 Youth's 3-6 Women's 4.5-7.5 , ADIDAS PUREBOOST ZG PRIME M RUNNING TRAINERS UNISEX RRP NEW IN BOX , Asics Women's Gel-Cumulus 19 Lite-Show Running White Silver Aruba Blue Size 7 , Nike Air Max 90 768887-001 Black Gray Leather Suede Shoe Women's US 8.5 , Ladies Nike Volleyball Shoes Hyperspike Black Low Top Size 11.5 New , Nike WMNS Air Max 1 Ultra Essentials [704993-401] Women Casual Deep Blue US 7.5Womens Nike AIR JORDAN 1 HIGH ZIP Shoes -Retail $150 -AQ3742 205 -Sz 10 -NewWomen's Nike Air Huarache City Low Casual Shoes White/White/White AH6804 100ASICS Women's Gel 1150V Volley Ball Shoe, Black/Black/Silver, 7 M US , NIB New Nike Air Futurun 2 Running Shoe 631430-500 Magenta Pink WOMENs Sz 7 9.5Ladies Lacoste LT Spirit Elite 317 White Low Top Sports Summer Trainer All Sizes , New Women's REEBOK Instapump Fury Celebrate Sneaker - V70094 Gold Bronze
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 Madeline Stuart Amber Dark Brown Slouchy Knee High Fashion Boots Heels Size 6.5 , ECCO Black Leather Wool Lined Winter Boots Size 37 US 6.5Blowfish Horken Booties, Tan Textile Fold Over Ankle Boots Shoes Size 6.5 , Walking Cradles Women's ankle boots size 11 N , ollio Women Shoes Suede Zip up Cutout Ankle High Heel Bootie , Indigo Rd. Chant2 Pull On Booties, Medium Brown, 5.5 US , Circus by Sam Edelman Women's Kilbourn Fashion Boot Asphalt Size 8.0 cLQwBiviel Riding Boot Women size 38/7.5 Brown Leather , L0915 Womens Size 11 M Selena Gomez Purple Western Cowboy Boots , B.O.C Womens Carin Leather Almond Toe Ankle, Taupe/Natural Combo, Size 8.5 GYnA , Luichiny Really Mine Almond Beige 6" Stiletto Heel Platform Knee Boot 6-10 , Woolrich Women's Pocono Creek Winter Boot, Chinchilla/Camo Wool, 10 M US , Zara Laminated Leather Ballerinas With Heel 7.5, 38, 6257/ 101 100% Goat Leather , Franco Sarto Womens Dante Leather Almond Toe Ankle Fashion Black Size 6.0 aDgX , Rampage Size 6 M Albie Black Mid Calf Boots New Womens ShoesSt. John black patent leather flats loafers w/gold chain size 6.5 M, Great CondAGL Attilio Giusti Leombruni Ivory Leather Snake Toe Cap Ballet Flats - 8Badgley Mischka MP4138 Womens Sheila Ballet Flat- Choose SZ/Color.Eva Vs. Maria Women's Tonica Woven Flatform Oxfords Shoes Retail $218 size 5 , HERMES PARIS WOMEN GOLD "H" BUCKLE CARMEL LEATHER LOAFER SHOES ~SIZE 35.5~ , TORY BURCH Black Nappa Leather Sawtooth Slides Logo Shoes 9 US / 39 EU , Skechers On The Go Shoes 9 Nine Women's 39 European Black & White Boat CasualSKECHERS SHAPE-UPS 8.5 BLACK/White 11809 TRAINING TONING WOMEN'S SNEAKERSSam Edelman Women's Filly Penny Loafer Taupe 11 M US , New Balance Women's 1400v5 Running ShoeNIKE AIR MAX + 2013 LE Reflective Silver/Hyper Red 579585-006 Women’s Sz 7Women's ALTRA Lone Peak 2.5 A2553 Caribbean Blue Size 9.5 US , Women's NEW Skechers Women's Shoes Athletic Shoes , Womens Shoes Over knee high Boots Sexy Clubwear High Stilettos Platform Ske15Nike Air Max 90 Premium 896497-002 Black/Black-Gum-White Wmn Sz 6-8.5 ,
 
University of Phoenix is the latest college under investigation
 
Latest Buzz Videos
See all videos
Skechers 12822 Relaxed Fit 12822 D'Lux Fit Empire Women Taupe Women shoe 66745ae Athletic Shoes
1778110
2958780
5330019
6163542
6593820
14171829
17130919
17470694
18978098
Powered by WordPress.com VIP.