The Buzz
All markets and investing news all the time


Item specifics

New without box: A brand-new, unused, and unworn item (including handmade items) that is not in original packaging or ... Read moreabout the condition
Marque: OSIRIS
Numéro de pièce fabricant: 8908947 Matière: TOILE

samples shoes BALLERINE OSIRIS cove 2 BALLERINE WHITE RED OSIRIS shoes WOMEN 27bbac9 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
samples shoes BALLERINE OSIRIS cove 2 BALLERINE WHITE RED OSIRIS shoes WOMEN 27bbac9 -

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%.


Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
samples shoes BALLERINE OSIRIS cove 2 BALLERINE WHITE RED OSIRIS shoes WOMEN 27bbac9 -
About This Author
samples shoes BALLERINE OSIRIS cove 2 BALLERINE WHITE RED OSIRIS shoes WOMEN 27bbac9 -
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
Merrell Women's Dassie Fold Moc Slipper Shoes Size 7.5 38 Brown Bracken J02144 , Nine West Womens Jeffrey Suede Mule, Black Suede, 10 M USRocket Dog RAINYMF Womens Rainy Midnight Floral Rubber Printed Rain BootSkechers Women's Bikers Pedestrian Memory Foam Slip-On Moccasin6.5 M USBlack ...BOBS from Skechers 31354 Womens Bobs Swift-Social Hustle- Choose SZ/Color. , T.u.k. V9097 3d Rose Emb Viva Women's Embroidered Brothel Creeper Shoes New , Skechers BOBS Women's Bobs-b-Loved Flat Gray 5 M USBOBS from Skechers Womens Bobs Plush-Perfect Patch Flat, Camouflage, 7 M US , Skechers BOBS from Women's Luxe Bobs-Fleetwood Flat Dark Taupe 6.5 M USCLARKS Women's Hope Roxanne Loafer Black Leather 085 M USIrregular Choice Yes You Pelican Womens Embroidered Tropical Ballerina Pumps NewIvanka Trump Womens Sportswear Denim Bermuda Short- Pick SZ/Color. , Rieker 43711-00 Women's Cut Out Flower Slip On High Heel Mary Jane Shoes New , Skechers BOBS Women's Bobs Plush-Friday Night Flat Pewter 5 M USYosi Samra Women's Vince Ballet Flat, Silver/Metallic Noise Leather, 8 Medium US , Skechers BOBS Women's Plush-Vintage Cartoon Flat Natural/Multi 6 M US , Skechers Women's Sport Empire - Rock Around Relaxed Fit Fashion Sneaker, Blue,Skechers BOBS from Women's Plush Lite-Winter Skies Flat Navy 7 M USSkechers BOBS Women's Bobs Plush-Balloon Flat White/Multi 5.5 M US , Ahnu AF2550 Women's Tullia Flat - Porter (Brown) - 9.5 , Skechers BOBS Women's Highlights-Machu Flat Black 6.5 M US , Skechers Women's Cleo Sass Ballet FlatBlack7.5 M US , Eastland 3123-08 Womens Gia Narrow FlatN US- Choose SZ/Color. , Irregular Choice Coochy Coo Women's Metallic Glitter Ballerinas With Flower NewSkechers BOBS Women's Bobs B-Loved-Rise and Sparkle Flat Black 9 M USNine West NONEY Synthetic Womens Noney Slip-Ons- Choose SZ/Color.SKECHERS USA Inc 11944 Womens DLites - Style Rethink- Choose SZ/Color. , Naot Women's Allegro Footbed,Beige,41 M EU / 10 B(M) US Allegro BeigePikolinos 655-1573 Women's Adjustable Cut Out Flower Detail Leather Pumps New ,
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 Womens Thigh High Block Heel Ladies Fashion Over The Knee High Stretch Leg BootsLibby Edelman Fayina Black Quilted Puffy Ankle Boots 8.5 NewZIGI SOHO Womens brock Closed Toe Over Knee Fashion Boots, blush pink, Size 7.5BAMBOO Leopard Print Faux Suede 4” High Heels Womens Knee High Boots Size 7.5 , Not Rated Womens Captain Country Black Ankle Boots 8.5 Medium (B,M) BHFO 6923VENDRAMINI MADE IN ITALY WOMENS GREEN PURPLE WALKIN HIKING BOOTS size 39Tony Lama SN58281 Womens Size 6B Brown Purple Pull On Western Cowboy Boots B110G By Guess Side Zip Ankle Boots-Women's size 8.5 M BlackWomens Ladies Chelsea Biker Ankle Boots Western Studded Strappy Flat Shoes Size , PRADA SOFT BLACK LEATHER ZIPPER SIDE ANKLE BOOTS Sz 37.5M MADE IN ITALYNine West Nicolah Wide Calf Riding Boots, Cognac, 5 US Display , Ln Women’s Lucky Brand LORRY brown leather ankle boots! Size 6.5 , Free People Jeffrey Campbell Everwell Ankle boot 9.5 Belt Strappy Gray Bloggers , NEW Womens Dingo Motorcycle Boots Biker Boots Casual Boots 2370 Black 6.5M , WOMEN'S BOOTS BY LOVELY PEOPLE, NEW WITH BOX , US SIZE 9Luca Grossi 1001r Black Beige Leather Patent Round Toe Flats Shoes 38.5 / US 8.5Womens Platform Shoes Black Leather Camper Turtle Color Block Shoes K200505 NEW , TOD’S Gommini' Driving Moccasin size 38 , Womens SKECHERS navy blue fabric athletic sneakers sz. 11 ()Salvatore Ferragamo Loafers Shoes Extra Light Womens 9.5 4A Narrow MINTLACOSTE CHERRE 116 1 5003 CAW NVY slip on sale , Saucony Endorphin Athletic Shoe - Women's Size 5.5 - Multicolor , Salomon Snow Clog Mens 8 Womens 9.5 Contagrip Black Synthetic Slip OnNew Women's Skechers 13777 GOwalk Blend Walking Shoes Size 6 (L15) , Puma Womens Fierce evoKNIT Black Fashion Sneakers 9.5 Medium (B,M) BHFO 3160 , Women's LANVIN Shoes 530528 Silver Flats , Women's New Ugh Mules Size 6 BootsDansko Sheena Nubuck Bootie Wedge Heels 38 7.5 , Trotters Women's Jenn Navy Soft Tumbled Leather Comfort Shoes , Birki's Adjustable Aqua Perforated Heart Clog Mule Birko-Flor Size 5/36 N Narrow
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
samples shoes BALLERINE OSIRIS cove 2 BALLERINE WHITE RED OSIRIS shoes WOMEN 27bbac9 Flats
Powered by VIP.