Welcome to our dedicated page for Constellation Brands news (Ticker: STZ), a resource for investors and traders seeking the latest updates and insights on Constellation Brands stock.
Constellation Brands, Inc. (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with a remarkable presence in the U.S., Canada, Mexico, New Zealand, and Italy. The company is recognized as the third-largest producer and marketer of beer in the U.S. market and the global leader in premium wine. Their extensive portfolio includes renowned brands such as Corona Extra, Modelo Especial, Robert Mondavi, and SVEDKA Vodka.
Headquartered in Victor, NY, Constellation Brands is committed to building brands that people love, focusing on quality and consumer satisfaction. They generate approximately 80% of their revenue from Mexican beer imports, making them a significant player in this segment. In addition to their prowess in beer, Constellation continues to innovate within the wine and spirits categories, enhancing their offerings with select premium brands.
Financially, Constellation Brands has shown impressive growth and profitability, bolstered by strategic partnerships and acquisitions. They own a 36% stake in Canopy Growth, a Canadian cannabis company, and have a joint venture with glass manufacturer Owens-Illinois. These strategic moves have positioned the company for continued growth and market leadership.
Constellation Brands is also dedicated to sustainability and ESG (Environmental, Social, and Governance) goals. Recently, they released their 2023 ESG Impact Report, highlighting achievements such as restoring over 1.1 billion gallons of water withdrawals, with a new target to restore 5 billion gallons by FY2025. They are also advancing their environmental stewardship with goals for zero waste certification and circular packaging by FY2025.
The company’s social initiatives include a $200 million investment in female- and minority-founded businesses within the beverage alcohol industry. They have formed impactful partnerships with organizations like Dress for Success and UnidosUS to support underserved communities.
Constellation Brands continues to enhance governance practices, including transitioning to a single class of common stock and refreshing their Board. These initiatives reflect their commitment to creating long-term value for shareholders while adhering to the highest standards of corporate governance.
For more detailed updates and financial results, please visit their official website and follow them on social media platforms like X, Instagram, and LinkedIn.
Constellation Brands (NYSE: STZ and STZ.B) has announced that Garth Hankinson, Executive Vice President and CFO, will participate in a fireside chat at the 2022 Barclays Global Consumer Staples Conference in Boston on September 7, 2022, starting at 11:15 a.m. ET. The discussion will include the company’s strategic business initiatives, financial metrics, and operating performance. A live webcast will be available on their investor relations site, with a replay accessible until October 7, 2022.
Constellation Brands (NYSE: STZ, STZ.B) has committed $700,000 over two years to support The Nature Conservancy’s (TNC) water management initiatives. Aimed at enhancing watershed health in California, this donation aligns with Constellation's water replenishment goals, which target restoring approximately 1.1 billion gallons of water by FY 2025. The funding supports TNC's Global Resilient Watersheds program and dynamic water management strategies in key California regions. This initiative highlights Constellation's broader commitment to sustainability and environmental responsibility.
Constellation Brands (NYSE: STZ, STZ-B) announced a proposal to eliminate its Class B common stock, subject to shareholder approval. This proposal involves converting each Class B share into one Class A share plus $64.64 in cash, totaling $1.5 billion, which represents a 26.5% premium over the Class A stock's closing price on June 29, 2022. The reclassification aims to enhance corporate governance and reduce operating costs by approximately $15-20 million in fiscal 2022. The Sands Family will maintain significant ownership but will have reduced voting power.
Constellation Brands reported its first quarter fiscal 2023 financial results on June 30, 2022. The company is a major player in the beverage alcohol industry, offering a diverse portfolio that includes popular beer brands such as Corona and Modelo, as well as premium wines and spirits. A conference call discussing these results and future outlook is scheduled for the same day at 10:30 a.m. EDT. For more details, visit their investor relations page.
Constellation Brands (NYSE: STZ and STZ.B) has announced that its subsidiary Greenstar Canada Investment Limited Partnership will sell C$100 million in 4.25% senior notes to Canopy Growth Corporation. This transaction is part of a larger exchange involving C$255 million in notes, where Greenstar will receive Canopy's common shares. Based on trading prices, Greenstar may obtain up to 30.7 million shares, representing about 7.6% of Canopy's outstanding shares. Additionally, due to a recent amendment, any note conversions will now occur in cash rather than shares.
Constellation Brands (NYSE: STZ, STZ.B) has announced the retirement of Patty Yahn-Urlaub as head of Investor Relations, effective July 22, 2022. Joseph Suarez will take over the role on July 1, 2022. He joined the company in November 2021 as Vice President, Investor Relations, and has prior experience at Teneo, BHP, and Rio Tinto. The transition aims to ensure continuity in the investor relations function, which is deemed critical for the company's future growth and ongoing communication with investors.
Constellation Brands (NYSE: STZ, STZ-B) will report its financial results for the first quarter ended May 31, 2022, on June 30, 2022, before U.S. markets open. A conference call will be hosted by CEO Bill Newlands and CFO Garth Hankinson at 10:30 a.m. EDT on the same day. Investors can access the call by dialing +1-877-407-9121 using conference ID 13730234 or via a live webcast on the company’s website. The call will include financial discussions and a reconciliation of GAAP to non-GAAP measures available online.
Constellation Brands (NYSE: STZ, STZ.B) announced that CFO Garth Hankinson will present at the 2022 RBC Capital Markets Global Consumer and Retail Conference on June 2, 2022, at 12:00 p.m. ET in Boston, MA. The presentation will highlight the company's strategic business initiatives, financial metrics, and future outlook. A live webcast will be available on their website, and a replay will be accessible until July 1, 2022. Constellation Brands aims to connect through its premium beer, wine, and spirits brands, reinforcing its position as a leader in the beverage alcohol industry.
On May 10, 2022, SoundCommerce announced the acquisition of Outlier.ai to enhance its growth and expand its sales, marketing, and customer success teams. This strategic move aims to optimize profitability for direct-to-consumer brands and retailers, including notable clients like Constellation Brands (NYSE:STZ) and BRCC (NYSE:BRC). Additionally, Steve Davis has been appointed as Chief Revenue Officer, bringing 25 years of experience to drive partnership alliances and enhance customer success.
Constellation Brands (NYSE: STZ and STZ.B) announced the expiration of its cash tender offers for outstanding 3.20% and 4.25% Senior Notes due 2023 on May 6, 2022. A total of $401.8 million (66.96%) of the 3.20% notes and $680.1 million (64.77%) of the 4.25% notes were validly tendered. Payments for these notes will occur on or around May 9 and May 11 for the guaranteed delivery. Additionally, a full redemption notice has been given for remaining 2023 Notes to occur on June 8, 2022, including a make-whole premium of approximately $7 million.
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